BioCentury
ARTICLE | Financial News

Cardio3 sets IPO range

June 21, 2013 12:48 AM UTC

Cardio3 BioSciences S.A. (Mont-Saint-Guibert, Belgium) said it plans to sell up to 1.3 million shares at EUR 16.65-EUR 19 in an IPO on NYSE Euronext Brussels and NYSE Euronext Paris. The company announced plans for the IPO earlier this month. At the EUR 17.83 midpoint, Cardio3 would raise up to EUR 23.2 million ($30.9 million) and be valued at about EUR 107.8 million ($143.6 million). According to the company, existing investor SRIW has committed EUR 4.5 million ($5.9 million) and new investor PMV has committed EUR 9.5 million ($12.7 million) in the offering, which is expected to close July 3. The shares are slated to start trading on July 5. Kempen is global coordinator, and Kempen and Invest Securities are joint bookrunners. ...