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Company That Brought Genomics the 384 Wellplate Plans IPO

NEW YORK, Oct 11 - What’s six inches by four inches, has more than three hundred holes, and is about to make one company very rich?

If you guessed the 384 Wellplate, you’re right on the money.

Genetix, the company that brought genomics the 384 Wellplate is planning to float shares in an initial public offering next month on the London Stock Exchange, the British Ananova website reported Wednesday.

According to Ananova, Genetix of New Forest, UK, hopes to raise 27 million pounds ($39.5 million) via the offering.

The company generates annual profits of 3.2 million pounds through sales of a range of machinery including the 384 Wellplate to such cutomers as Glaxo Wellcome, AstraZeneca, and Millennium Pharmaceuticals. The company recently began selling in China and has plans to enter the Brazilian market later this month.

The company is expected to issue a shareholder prospectus Thursday.

A float price will be disclosed on October 31, and the company hopes to start trading on November 7.

Genetix has 60 employees.

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