Is OKYO Pharma (LON: OKYO) going for a Nasdaq listing?

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Is OKYO Pharma (LON: OKYO) going for a Nasdaq listing?

 Is OKYO Pharma (LON: OKYO) going for a Nasdaq listing?
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Highlights

  • OKYO Pharma is aiming to get its ADSs listed on Nasdaq and has submitted a registration statement with the US SEC for the same.
  • The exclusive book-running manager for the IPO is the California-based investment banking firm ThinkEquity.
  • Both the size of the IPO as well as its timing would be determined based on the situation of the market.

Leading UK-based biopharmaceutical firm, OKYO Pharma Limited (LON: OKYO), has recently announced its plans of making a debut in the US market. The company has proposed to launch an IPO of its American Depositary Shares (ADSs). It has formally submitted a registration statement with the US Securities and Exchange Commission (SEC) for the same.

OKYO Pharma’s US IPO

OKYO pharma is a biopharmaceutical firm that is primarily engaged in the development of innovative GPCR based treatments for various eye ailments as well as non-opioid pain killers for prolonged optical pain, which has a huge market. OKYO will offer its ADSs through the US IPO and has submitted a registration statement to the US SEC regarding the offering.

The number of ordinary shares that every ADS would represent hasn’t been decided by the company yet. Additionally, the total number of ADSs to be offered and the price hasn’t been established either. Reportedly, both the size of the IPO as well as its timing would be determined based on the situation of the market.

OKYO Pharma has expressed its intention to float its ADSs on Nasdaq under the ticker symbol “OKYO”. The company trades on the London Stock Exchange (LSE) with the same symbol, and its ordinary shares will continue to trade on the LSE after its IPO on the Nasdaq Capital Market.

The exclusive book-running manager for the IPO is the California-based investment banking firm ThinkEquity. The IPO would take place through a prospectus, but no securities would be offered in the UK or in any country which is a member of the European Economic Area (EEA).

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 UK biopharmaceutical company OKYO Pharma has filed for a US IPO

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OKYO’s share price performance on LSE

Pharmaceuticals and biotechnology firm OKYO Pharma is listed on the London Stock Exchange’s main market since July 2018. The market cap of the company stands at £103.08 million as of 7 March 2022.

OKYO Pharma Limited’s shares were at GBX 7.50 on 8 March 2022. The stock has given a return of 7.30% on a year-to-date (YTD) basis, though on a one-year basis, its return has been negative.

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 Bottomline

OKYO Pharma Limited is aiming to get its ADSs listed on Nasdaq. The number of ADSs to be floated, the price range and other major details haven’t been revealed by OKYO as of now. More details are expected soon and can be referred from the company’s website.

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