ARTICLE | Financial News

Devgen gains on first trading day

June 8, 2005 12:17 AM UTC

Devgen (Euronext:DEVG) was up EUR 0.30 to EUR 7.80 on 117,000 shares on Tuesday, its first day of trading on Euronext Brussels. The company announced on Sunday that it raised EUR 30 million ($36.7 million) in an IPO through the sale of 4 million shares at EUR 7.50, which gave it a post-money valuation of EUR 104 million ($127.1 million). The price was at the bottom of the company's proposed range of EUR 7.50-EUR 10. The deal was underwritten by KBC Securities; Code Securities; and Bank Degroof. ...