ARTICLE | Company News

Sweden's NeuroVive prepares for Taiwan IPO

February 13, 2015 2:32 AM UTC

Swedish neurology company NeuroVive Pharmaceutical AB (SSE:NVP) established a Taiwan subsidiary, NeuroVive Pharmaceutical Asia Inc. (NeuroVive Asia), with $3.3 million in funding in advance of a planned IPO by the unit in Taiwan.

Beijing's Foundation Asia Pacific Ltd. and undisclosed Taiwanese investors invested $2.3 million, and NeuroVive invested $1 million in the subsidiary. NeuroVive said it holds a 71.4% stake in the subsidiary following the investment, which came at a pre-money valuation of $12.5 million. ...