Ebb & Flow

IPO activity has been percolating in France, where ExonHit (Euronext:ALEHT) recently went public on Alternext and has seen investors clamoring to get shares of the alternative splicing company. At Friday's close of E3.70, ALEHT is up E0.81 (28%) from its IPO price.

The next shoe to drop probably will be BioAlliance's planned IPO on Euronext. The offering is expected to price this Tuesday and start trading the following day. Before these two companies, the last French IPO was NicOx (Euronext:Nicox) in November 1999...