HBM to list shares but cancels capital hike
Swiss biotech investor HBM Bioventures will list on the Swiss stock exchange, but with no capital increase or share placement due to poor market conditions.
By Agencies |
ZURICH: Swiss biotech investor HBM Bioventures will list on the Swiss stock exchange, but with no capital increase or share placement due to poor market conditions. "HBM Bioventures is completing the listing without a capital increase and, given the current market environment, has decided not to pursue a share placement," the company said in a statement released late on Wednesday.
HBM has a portfolio of start-up human medicine, biotech and medtech companies and has held stakes in companies like Basilea , Newron and Cytos from before they went public. The group had previously said it could place a maximum of 1.55 million shares, including 1.08 million new shares.
The company has 11.3 million shares outstanding. The syndicate handling the transaction is led by UBS Investment Bank and also include Merrill Lynch International, Sal. Oppenheim and Sarasin & Cie/Neue Zuercher Bank.
HBM has a portfolio of start-up human medicine, biotech and medtech companies and has held stakes in companies like Basilea , Newron and Cytos from before they went public. The group had previously said it could place a maximum of 1.55 million shares, including 1.08 million new shares.
The company has 11.3 million shares outstanding. The syndicate handling the transaction is led by UBS Investment Bank and also include Merrill Lynch International, Sal. Oppenheim and Sarasin & Cie/Neue Zuercher Bank.
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