Credit: Shutterstock photoAblynx, a Belgian biotech developing single-domain antibodies for various diseases, announced terms for its global IPO on Tuesday. The company's stock is currently listed on the Euronext Brussels under the symbol "ABLX."
The Zwijnaarde, Belgium-based company plans to raise $150 million by offering 7.2 million ADSs at a price of $20.95, based on Friday's closing price of the company's ordinary shares on the Euronext Brussels. The company plans to raise an additional $25 million by concurrently offering 1,193,316 ordinary shares in a private placement at a translated price of $20.95 for a combined $175 million in total proceeds. Following the offering, Ablynx would command a fully diluted market value of $1.5 billion.
Ablynx was founded in 2001 and booked $78 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol ABLX. BofA Merrill Lynch, J.P. Morgan and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of October 23, 2017.
The article Belgian biotech Ablynx sets terms for $175 million global IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
