Probiodrug raises EUR 22.5M in IPO

Probiodrug AG (Euronext:PBD) raised EUR 22.5 million ($28.7 million) in an IPO through the sale of 1.5 million shares at EUR 15.25 on Euronext Amsterdam, giving the company a market cap of EUR 102.4 million ($130.6 million). Probiodrug priced the offering at the low end of its proposed range of EUR 15.25-EUR 19. Kempen and Petercam were underwriters, and Close Brothers Seydler acted as selling agent. Trading of the shares will start on Oct. 27. ...