Molecular Partners postpones big Swiss IPO

Ophthalmic and cancer company Molecular Partners AG (Schlieren, Switzerland) postponed plans for a big IPO on the SIX Swiss Exchange, citing "adverse market conditions." The company had begun bookbuilding on Oct. 8 and was scheduled to begin trading today. Last month, it filed to raise CHF125 million ($133.1 million) in the offering.

The deal would have been the fourth largest IPO in the past five years. Molecular Partners also would have been the third European company to break the $100 million IPO threshold in 2014, joining the $337.5 million deal by Circassia Pharmaceuticals plc (LSE:CIR) and two NASDAQ flotations: $220.5 million by Forward Pharma A/S (NASDAQ:FWP) and the $112.2 milllion by ProQR Therapeutics N.V. (NASDAQ:PRQR). ...