At that time, Northern Ireland - once boasting six active, publicly listed companies – had just two. But now we’ve got a new plc in Fusion Antibodies plc.
A week before Christmas, Belfast-based contract research organisation Fusion Antibodies plc, successfully floated on AIM with a market capitalisation of £18.1m. Fusion raised £5.5m from the market and with the subscription oversubscribed, and its shares climbed 35% on its first day of trading (18 December 2017) before closing at 123.5 pence.
As auditors and reporting accountants, PwC worked closely with Fusion to advise and help prepare the Queen's University spin-out for their IPO. Fusion’s success reminds us that smaller companies can go to the City and play with the big boys and that businesses in Northern Ireland should not be afraid of going for an IPO.
Paul Kerr (CEO) and James Fair (CFO) share their experience of flotation.