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By Nigel Somerville | Saturday 4 January 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Last week saw the announcement of a fundraise by former Woodford investee Oxford Nanopore. The headlines were that £110 million had been raised but in fact only £29.3 million will go to the company. The rest was share sales by existing holders – including the former Woodford funds and IP Group, but the details so far seem to be shrouded in mystery. However, the maths for the former Woodford funds looks awful – which may explain the lack of detail offered up so far. Meanwhile, Oxford Nanopore’s cut of £29 million won’t last it very long and I suggest another funding round must be on the cards before the summer.
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