Procter & Gamble Co
Change company Symbol lookup
Select an option...
PG Procter & Gamble Co
PWJAX PGIM Jennison International Opportunities Fund- Class A
MBWM Mercantile Bank Corp
MEIUF Meitu Inc
HD Home Depot Inc
ACC American Campus Communities Inc
MRLN Marlin Business Services Corp
OMC Omnicom Group Inc
MSFT Microsoft Corp
PNFP Pinnacle Financial Partners Inc
Go

Consumer Staples : Household Products | Large Cap Blend
Company profile

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies. It offers products under the brands, such as Olay, Old Spice, Safeguard, Head & Shoulders, Pantene, Rejoice, Mach3, Prestobarba, Venus, Cascade, Dawn, Febreze, Mr. Clean, Bounty and Charmin.

Premarket

Last Trade
Delayed
$136.96
-0.79 (-0.57%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$137.75
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
3,267

10-day average volume:
7,863,779
3,267

UPDATE: British biotech Oxford Nanopore prepares for $3 billion London IPO

7:58 am ET March 31, 2021 (MarketWatch)
Print

By Lina Saigol

Oxford Nanopore's gene-sequencing technology is helping the global battle against COVID-19

Oxford Nanopore said on Tuesday that it has started preparing for a potential initial public offering, which could value the U.K.-based biotech revolutionizing real-time genetic sequencing at more than GBP2 billion ($3.17 billion).

The Oxford-based company said in a statement (https://nanoporetech.com/ont/announcement) that it expects the IPO to take place in the second half of the year on the London Stock Exchange , though it noted that the timing of a listing is dependent on market conditions.

Oxford Nanopore was valued at GBP2.3 billion in March after intellectual property-based business developer IP Group , which owns a 15% stake of the company, valued its holding at GBP340.3 million (https://www.ipgroupplc.com/media/ip-group-news/2021/2021-03-30).

That makes Oxford Nanopore one of the U.K.'s rare "unicorns" -- an unlisted technology company valued at more than GBP1 billion. The company counts U.S. drug company Amgen (https://wwwext.amgen.com/newsroom/press-releases/2018/10/amgen-invests-50-million-66-million-in-oxford-nanopore-technologies)(AMGN), Singapore's sovereign-wealth fund GIC, China Construction Bank International, and asset management company Schroders among its investors.

Shares in IP Group rose 2% at 122.40 pence in early morning London trading on Tuesday.

Read:Oxford Nanopore's Gene-Sequencing Is Helping the Global Battle Against Covid. It's Now Considering an IPO (https://www.barrons.com/articles/how-oxford-nanopores-gene-sequencing-is-helping-the-global-battle-against-covid-its-now-considering-an-ipo-51611570281).

Founded in 2005 by Chief Executive Gordon Sanghera (https://nanoporetech.com/node/79) as a spinout from the University of Oxford, Oxford Nanopore set out to revolutionize DNA sequencing by providing a fast, cheap way of providing real-time surveillance.

The company's handheld DNA sequencing device -- called MinION -- is the size of a cellphone, runs off a laptop USB plug and costs just $1,000, making it simpler, cheaper and faster to sequence without the need for big clinical laboratories.

Since the outbreaks of COVID-19 last January, Oxford Nanopore's sequencing technology, which competes with California-based Illumina (ILMN), has been used to support scientists in more than 85 countries, including China and more recently Brazil, to track the emergence of new variants of the coronavirus that causes COVID-19.

Read:Fear of new virus variant pushes U.S. toward more genomic sequencing (https://www.marketwatch.com/story/fear-of-new-virus-variant-pushes-u-s-toward-more-genomic-sequencing-11610738193?adobe_mc=MCMID%3D11491397177131890963661314161702684340%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1617095849)

Oxford Nanopore said its potential IPO would allow it to gain "access to deeper, international pools of capital" to support its ambitious growth plans, and allow it to scale up its manufacturing and commercial functions.

"Our DNA and RNA sequencing technology is well-positioned for accelerated use across multiple applications; we believe that there is huge potential for near-sample, rapid, low cost, sequencing-based analyses across scientific research, healthcare and industrial settings," the company said.

The company also hopes to boost its rapid COVID-19 testing capability. Last year, it joined forces with the U.K. government to provide its LamPORE COVID-19 test (https://www.birmingham.ac.uk/news/latest/2020/12/large-study-in-uk-nhs-labs-shows-gold-standard-accuracy-of-covid-19-test.aspx) that can determine whether a user has coronavirus in under an hour.

The decision to list in London will be welcomed by the U.K. government, which has been trying to attract more British unicorns to choose the capital for their IPOs.

Read:London set to overhaul listing rules to attract tech IPOs and cash in on blank-check boom (https://www.marketwatch.com/story/london-set-to-overhaul-listing-rules-to-attract-tech-ipos-and-cash-in-on-blank-check-boom-11614774265)

In February, a U.K. government-backed report (https://www.gov.uk/government/news/independent-review-recommends-reforms-to-uk-listing-rules-to-boost-growth-and-markets) recommended London make it easier for founders to keep control after listing and reduce the amount of equity a company must sell to outsiders, to encourage tech companies to choose the city for their IPOs.

Deliveroo, which is backed by online retail giant Amazon (AMZN), is set to join the London stock market on Wednesday, in what is expected to be the city's biggest flotation in recent years.

Read:Amazon-Backed Deliveroo Trims IPO Price Range Ahead of London Debut, Citing 'Volatile' Market Conditions (https://www.barrons.com/articles/amazon-backed-deliveroo-trims-ipo-price-range-ahead-of-london-debut-citing-volatile-market-conditions-51617015141)

However, on Monday, the food delivery company narrowed its price range, indicating a maximum valuation of up to GBP7.85 billion, compared with its initial valuation of GBP8.8 billion. Deliveroo cited market volatility for the decision, but the company has faced intense criticism from some of the U.K.'s biggest fund managers, who have expressed concerns (https://www.marketwatch.com/story/big-investors-shun-amazon-backed-deliveroos-12-billion-ipo-over-workers-rights-concerns-11616681117?adobe_mc=MCMID%3D11491397177131890963661314161702684340%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1617095769)over workers' rights and the company's share ownership structure.

-Lina Saigol; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

March 31, 2021 07:58 ET (11:58 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2021 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2021. All rights reserved.