Codexis plans $103m IPO this week

- Last updated on GMT

Related tags: Initial public offering

Biocatalysis specialist Codexis aims to raise $103m in another initial public offering (IPO) on the Nasdaq Global Market.

The firm, which makes enzymes used in the production of pharmaceuticals and biofuels, has filed several​ IPOs during its seven year existence that were subsequently withdrawn.

Now however, according to documents filed with the US Securities and Exchange Commission last Friday, the California, US-based company has made some 6m shares available to investors for between $13 and $15 each.

Despite deriving a significant amount of its business from oil companies like Shell and Chevron, Codexis also counts firms like Pfizer, Merck and Teva among its drug industry customers.

More recently​ the firm partnered with active pharmaceutical ingredient (API) maker Ampac Fine Chemicals and Indian contract research and manufacturing services (CRAMS) group Dishman.

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