Oxford Nanopore surges 45% in rare London biotech listing

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By Yadarisa Shabong
(Reuters) -Oxford Nanopore Technologies soared 45% in its market debut on Thursday, marking London's biggest biotech listing in recent years and valuing the firm at almost 5 billion pounds ($6.84 billion).
The company specialises in DNA sequencing and provides rapid COVID-19 tests.
The London Stock Exchange (LSE) has enjoyed a strong run of IPOs this year yet biotech firms have traditionally opted to list in New York over London, or have listed on the LSE's junior AIM bourse rather than the main market.
"We went through a thorough and rigorous process and went for London," CEO Gordon Sanghera told journalists this month. "For many, many reasons is the right place to float, and some of the government moves are encouraging."
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