Karolinska prices IPO

Karolinska Development AB (SSE:KDEV) is off SEK2.10 to SEK37.90 since trading began on Friday, when the investment company raised SEK608 million ($97.6 million) in an IPO on NASDAQ OMX Stockholm. The IPO price of SEK40 per share valued the company at SEK1.9 billion ($311.6 million). When the company proposed the offering last month, the company said it needed capital for several projects in its portfolio that have reached "later and more costly clinical development phases" (see BioCentury, April 4). ...