NEW YORK, June 9 (GenomeWeb News) - Belgian pharmacogenomics and molecular diagnostics company OncoMethylome Sciences today disclosed details about its planned initial public offering in Europe.
The company hopes the IPO will raise around €35 million ($44.2 million), which may be increased by 15 percent to cover any over-allotments. The price of each share is set at between €7.50 and €10. The offer period is expected to begin on June 12 and close on June 23.
Euronext Brussels and Euronext Amsterdam will list the shares on Eurolist under the symbol ONCO beginning June 27.
OncoMethylome plans to use the funds to support its growth, to increase its capitalization and financial flexibility, and to increase R&D activities. The cash will also be used for working capital and other general corporate purposes, the company said.
The shares will be offered to retail investors in Belgium and The Netherlands and to European institutional investors. The sales prospectus will be available tomorrow.
Fortis and ING have been appointed as joint bookrunners and joint lead managers, with Kempen & Co. as co-manager.