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ARTICLE | Financial News

arGEN-X raises EUR 40 million in Euronext IPO

July 9, 2014 1:17 AM UTC

arGEN-X B.V. (Euronext:ARGX) raised EUR 40 million ($54.6 million) through the sale of 4.7 million shares at EUR 8.50 in an IPO on NYSE Euronext and a private placement to institutional investors. The price -- the low end of the company's proposed EUR 8.50-EUR 10.25 range -- values arGEN-X at EUR 131.7 million ($179.8 million).

Partner Shire plc (LSE:SHP; NASDAQ:SHPG) purchased 1.4 million arGEN-X shares, or about a 9% stake, for about EUR 12 million ($16.4 million). Existing shareholders purchased 848,182 shares for about EUR 7.2 million ($9.8 million). KBC Securities and Kempen are joint global coordinators and joint bookrunners. Petercam is co-lead manager, and Wedbush PacGrow is the selling agent. ...