Paion amends IPO

Stroke company Paion (Aachen, Germany) lowered the proposed price of its IPO and now hopes to sell 5 million shares at EUR 8 or above instead of the previously proposed range of EUR 11-EUR 14. If sold at EUR 8, the company would raise EUR 40 million ($51.5 million) and have a market cap of about EUR 120.8 million ($155.5 million). The deal will be underwritten by UBS; Dresdner Kleinwort Wasserstein; and Landesbank Baden-Wuerttemberg. ...