Biotech firm Circassia has raised £200m after launching on the stock market.

The offer price for shares in the company, based at the Oxford Science Park, was set at 310p per ordinary share which values the company at £581m.

A total of 64,516,129 ordinary shares have been issued by the company in what is the UK’s largest initial public offering.

Chief executive Steven Harris said: “This is a milestone achievement in Circassia’s history which demonstrates the significant progress we have delivered over the past seven years. We are extremely proud to have raised £200m, thanks to support from new and existing investors, which we believe to be the biggest ever biotech fundraising at Initial Public Offering in the UK market.’’

Meanwhile, motor repair business Nationwide Accident Repair Services has announced a £20m re-finance package with Barclays to support its growth strategy.

The Witney-based company, which is listed on the Alternative Investment Market, will use the funding to consolidate its finances and expand.

Group finance director David Pugh said: "It is important for us to work with a national banking partner supported by local presence and with the strong desire to share in our strategic goals through competitive and flexible banking facilities.”

Finally, the Cowley-built Mini has helped propel parent company BMW to another new sales record.

The car saw global sales rise 1.2 per cent to 305,030 units compared to 301,526. That helped boost pre-tax profits for the Munich-based company to 7.91bn euros.

Chairman Norbert Reithofer said: “In 2013 we achieved new highs for sales volume and profit and have reached the targets we set ourselves for the full year.”