ARTICLE | Financial News

Pharmexa raises DKK209 million

May 18, 2004 7:00 AM UTC

Pharmexa (CSE:PHARMX) raised DKK209 million ($33.4 million) through a rights issue of 12.3 million shares at DKK17. PHARMX's shareholders were offered three new shares for each share they held. The offering was partially underwritten by ING, while ING and Gudme Raaschou acted as lead managers. Because the offering was fully subscribed, PHARMX decided not to exercise an option agreement that would have called for a DKK10 million investment in the rights issue by H. Lundbeck (CSE:LUN). ...