Mercia-backed Abingdon Health files for IPO

Mercia's subsidiary Northern Powerhouse Investment Fund YHTV owns 24.2% of the company.

The company will list on the London Stock Exchange's AIM platform. The listing is expected to take place in early December.

Abingdon Health was in discussions with potential investors for an IPO to raise around £100m to finance its expansion plans, according to a report by Sky News.

Imperial Innovations Group led a £3m round in Abingdon Health, alongside other private investors in March 2012. Imperial invested £2m in the round. Following the investment, Imperial held a 28.6% stake in Abingdon Health.

Established in 2008, Abingdon Health is a lateral flow diagnostics company providing contract services to a global client base in the healthcare sector and other industries. Services offered by the company to its clients including product development, regulatory support, technology transfer and commercial manufacturing.

N+1 Singer is acting as adviser and broker.

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