Viking Global Files 13D on Urovant Sciences ~ market folly

Friday, October 12, 2018

Viking Global Files 13D on Urovant Sciences

Andreas Halvorsen's hedge fund firm Viking Global has filed a 13D with the SEC regarding shares of Urovant Sciences (UROV).  Per the filing, Viking now shows a 75.6% stake in the company with over 22.7 million shares, though the 13D notes that "The Reporting Persons do not directly own any Common Shares." 

The company recently completed its initial public offering (IPO).  Viking has previously invested in Roivant Sciences in 2016, a holding company that has created numerous subsidiaries, including newly public Urovant, which could explain Viking's SEC filing.  Other Roivant subsidiaries include Axovant Sciences, Myovant Sciences, and Enzyvant Sciences, to name a few.

Viking also invested in Roivant again in 2017 with an undisclosed amount of funding.  SoftBank's Vision Fund is also an investor in Roivant, but not the subsidiaries, at least that was the case as of mid-2017.  Roivant was founded by Vivek Ramaswamy.

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