Ablynx completes funding, raises €50 million
This article was originally published in Scrip
Executive Summary
Belgian antibody firm Ablynx has completed its secondary public offering, raising €50 million through the sale of just under 6.7 million new shares at €7.50 each. An over-allotment option of up to 400,000 shares worth €3 million in total will be covered by lending shareholders selling existing shares. The company said that the base offering at the final offer price was subscribed by about 1.1 times. The transaction leaves Ablynx with a market capitalisation of around €327 million based on the final offer price. The new shares are expected to begin trading on Euronext Brussels on March 18th. Ablynx announced its offering last week, when it set the offer price range at €7.20-7.75 (scripnews.com, March 8th, 2010).