AB Science files €55.5 million IPO
This article was originally published in Scrip
The French biotech AB Science plans to raise around €55.5 million through an initial public offering. The estimate is based on mid-range of the offering price, which is €13.95-17.05 per share.
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AB Science has closed its IPO at just half of the value of its initial expectations. The gross proceeds of the French firm's offer were €27.5 million, compared with the €55.5 million it anticipated when it filed for the offering on 8 April. Of the total, the company secured $16.5 million from the sale of newly issued shares; the remaining €11 million went to selling shareholders.
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