Partner Article

Clinigen raise £50m for floatation after BDO advice

Midlands-based pharmaceutical company Clinigen are in preparations to float on the Alternative Investment Market (AIM) after advice from BDO.

Clinigen, which is situated in Burton-on-Trent, has raised £50m to launch onto the London Stock Exchange’s small company growth market.

Accountants and business advisors BDO have encouraged the firm to take the step and become the first pharmaceutical company to float on the AIM in five years, with a market capitalisation of £135m.

Clinigen was ranked at the top of the Sunday Times BDO Fast Track 100 list last December, and plans to join the AIM on 25th September.

Clinigen’s CEO, Peter George, said: “After a period of sustained international growth, a listing of our shares is key and the next logical step in our development.

Steve Ward, Birmingham-based partner at BDO commended the firm, and said the company’s targets for fast, sustainable growth were within sight.

He commented: “AIM was the perfect platform for such an innovative company’s growth strategy and all credit is due to the management team for getting the IPO away in these challenging markets.

“As an audit client here in the Birmingham office, we were delighted to work with the management team on its admission to AIM. We are confident that such a high profile listing for the region and the fundraising will be a springboard for even further domestic and international growth for Clinigen.”

This was posted in Bdaily's Members' News section by Miranda Dobson .