AB Science amends IPO

AB Science S.A. (Paris, France) amended its IPO on Euronext Paris and a planned private placement outside the U.S. The company now hopes to sell 1.3 million shares at EUR 12.30-EUR 13. If sold in full at the midpoint of EUR 12.65, the company would raise EUR 16.5 million ($22.2 million) and be valued at EUR 383.7 million ($516.5 million). Earlier this month, AB Science proposed to sell 1.3 million shares at EUR 13.95-EUR 17.05. A EUR 15.50 price would have raised EUR 20.2 million ($27.2 million) and valued the company at EUR 470.2 million ($632.8 million).

The offer, which is underwritten by Societe Generale and Fortis Bank Nederland, is expected to close on April 22. The first day of trading is slated for April 26. Selling shareholders also plan to offer up to 727,000 shares, down from the previously announced figure of 2.3 million. ...