Sosei raises 11.2B Yen in IPO

Drug development and reprofiling company Sosei (Tokyo, Japan) is raising 11.2 billion Yen ($104 million) in an IPO on the Tokyo Stock Exchange's market of the high-growth and emerging stocks (MOTHERS) through the sale of 14,050 shares at 800,000 Yen. The company's post-money valuation is 55.3 billion Yen ($512 million), and trading of the stock is expected to start on July 29. The underwriters include Nomura; Merrill Lynch; and Daiwa Securities SMBC. The deal has a 2,310 share overallotment. On June 25, the company proposed to raise 10.2 billion Yen ($95 million) in the IPO. The company's preliminary price was 730,000 Yen. ...