Biopharma firm Poseida Therapeutics is to raise $224m (€198m) in an initial public offering (IPO). The IPO increases the value of Malin's shareholding to approximately €130m, a 17pc uplift to the last disclosed value of €111m. In addition, Poseida has granted the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock at the IPO price. At December 31, Malin owned 23pc of the group, it will retain an approximate 15pc stake in Poseida following the IPO. As early investors in Poseida, we look forward to continuing to support the company as it seeks to deliver transformational treatments to patients."

Source: Irish Independent July 10, 2020 07:18 UTC