European IPO updates
Activity surrounding the European IPO window was mixed on Tuesday, with one company on the Continent announcing intentions to list and another postponing its public offering. MediGene (Martinsried, Germany), the cancer and cardiovascular drug discovery company, proposed an IPO to raise up to EUR125 million ($120.7 million) through the sale of 2.985 million shares (including the shoe) at EUR35-EUR42 per share. Underwriters include Bank Vontobel; Morgan Stanley Dean Witter; and Commerzbank Munich. The company's lead products are Etomoxir, a small molecule CPT-1 inhibitor in Phase II testing to treat congestive heart failure (CHF) and PolyphenonE, a topical ointment in Phase II testing to treat genital warts. Trading of MediGene shares on the Neuer Markt is expected to start on June 30 under the symbol MDG. ...