Covington Advises Horizon Discovery on AIM IPO

Covington Advises Horizon Discovery on AIM IPO

March 31, 2014

LONDON, 31 March, 2014 — Horizon Discovery Group plc announced the admission of its shares to the AIM market of the London Stock Exchange. Covington & Burling advised Horizon on the transaction. The IPO raised approximately £40 million before expenses for Horizon and a further £28.6 million for selling shareholders, which puts a market capitalisation on the company of approximately £120.5 million.

UK-based Horizon, which commenced trading in 2007, is a leading life sciences company that supplies research tools to organisations engaged in genomics research and the development of personalised medicines. The company, which is revenue generating, supplies its products and services to multiple markets, including the translational genomics research market; the cell based assays market; the molecular diagnostics market, and the biopharmaceutical production market.

The Covington team was led by partners Paul Claydon and Natalie Walter, and included of counsel Guy Dingley, with associates Simon Williams, Sarah Hoult, and Stephanie Le Couteur.