ARTICLE | Finance

Karolinska's Cash Cushion

Karolinska Development beats money raising goal in IPO

April 25, 2011 7:00 AM UTC

Karolinska Development AB (SSE:KDEV) now has a bigger cash cushion than it had aimed for in its IPO on NASDAQ OMX Stockholm, which collected about $21 million more than it had targeted.

The offering sold 15.2 million shares at SEK40, raising SEK608 million ($97.6 million) and valuing the investment company at SEK1.9 billion ($305 million)...