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Mereo BioPharma to launch US IPO

Mereo BioPharma Group Plc is proposing a U.S. IPO of its American depositary shares.

The London-based biopharmaceutical company will list its ADSs on the Nasdaq Global Market under the ticker MREO.

Mereo also intends to launch a private placement of ordinary shares in Europe and other countries outside the U.S. and Canada. The company's ordinary shares will continue to trade on the London Stock Exchange's AIM market under the ticker MPH.

The company has yet to determine the number of shares to be offered and the price range.

Cowen and Co. LLC, BMO Capital Markets Corp. and RBC Capital Markets LLC serve as book-running managers for the offering. JMP Securities LLC is the lead manager and Cantor Fitzgerald Europe acts as co-manager.