ARTICLE | Financial News

Renovo prices IPO

April 8, 2006 1:50 AM UTC

Scar prevention company Renovo (LSE:RNVO) raised L50 million ($86.8 million) in an IPO on the LSE through the sale of about 57.5 million shares at 87p. The price was near the top of RNVO's 79p-89p range and values the company at L154 million ($267 million). Goldman Sachs was coordinator and bookrunner, and Nomura Code Securities was joint lead manager. Last month, the company refiled its IPO and proposed to raise L40 million ($69.7 million). The shares are expected to list on April 12. ...