BioCentury
ARTICLE | Financial News

Oasmia raises $18.3M in rights issue

October 20, 2012 12:41 AM UTC

Oasmia Pharmaceutical AB (SSE:OASM A) raised SEK122.7 million ($18.3 million) through the sale of 24.5 million shares in a rights issue underwritten by Oasmia's two main shareholders, Alceco International and Nexttobe. The price is about a 23% discount to Oasmia's close of SEK6.50 on Oct. 17, before the offering was proposed. Shareholders are eligible to purchase three shares for every seven held. Oasmia, which announced the financing on Thursday, was off SEK0.20 to SEK5.30 on Friday. On Friday, Oasmia fell SEK1 (15%) to SEK5.50. ...