It said the IPO raised about
The market capitalisation achieved by the company is likely to push it straight into the
"We are very pleased with the level of support that we have received from a broad range of investors during the IPO process. It is a strong endorsement of SSP's strategy, and of the potential for future growth that we see for our business," said Chief Executive
The IPO offer was for 25 million shares, while the current owners sold 3.4 million shares. It will have 97.4 million shares in issue, meaning the new shares make up 25.7% of the enlarged share capital.
The company provides services and technology for the biopharmaceutical research industry.
"We are confident that the business we have created for enabling our customers and partners to develop better biopharmaceuticals will thrive as pharmaceutical companies increasingly seek external expertise to advance their programmes. We believe that
The company will use the money raised to increase its service company to meet growth in demand, and develop technologies to boost licence revenue opportunities.
"The reduced gearing within the group, as well as the resulting reduced annual interest burden, will allow management to operate the business with greater flexibility and result in increased cash generation," it said.
That might allow it to make acquisitions and pay dividend in the future, the maker of uPVC windows and other building products said.
Epwin made revenue of
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