Forward Pharma raises $220.5M in IPO

Forward Pharma A/S (NASDAQ:FWP) fell $3.50 (17%) to $17.50 in its first day of trading on Wednesday after it raised $220.5 million through the sale of 10.5 million American Depositary Shares (ADSs) at $21 in an IPO. Leerink; Jefferies; RBC; and JMP were underwriters.

Forward Pharma filed to raise up to $200 million in August, and earlier this month amended the offering to sell 9.5 million ADSs at $20-$22. ...