The issue price was set following completion of a book building process aimed at institutional investors at SEK 58 per share and corresponds to a market value for Isconova, after the new issue, of about MSEK 233.
Lena Söderström, CEO of Isconova, comments;
“With about 800 new shareholders we now have the broad distribution of ownership that we have strived for and we are very happy that we, despite the dour market climate, gained so many new owners to follow us on Isconova’s journey forward. As a listed company we become more visible and strengthen our reputation among partners, customers and employees. We now look forward, with a strengthened financial position, to increase our already begun commitment to the human vaccine market and further strengthening our position on the market for veterinary vaccines”
The offering comprises a total of 1,379,310 shares, before exercise of the over-allotment option, corresponding to about 34 percent of the capital and voting rights of Isconova. The total value of the offering, before exercise of the over-allotment option, amounts to MSEK 80. Following completion of the offering the total number of shares outstanding amounts to 4,012,167.
The trade in Isconova’s share on NASDAQ OMX First North under the ticker symbol “ISCO” is expected to begin on November 10, 2010.
E. Öhman J:or Fondkommission AB (”Öhman”) has been financial advisor and Delphi has been legal advisor in regards to the new issue and listing of Isconova’s share on NASDAQ OMX First North. Avanza Bank AB has been retail-distributor for the offering. Öhman will be Isconova’s Certified Adviser and market maker for the company’s shares.
Lars Gårdö, Chairman of Isconova, telephone +46 (0) 705-25 06 94, email@example.com
Isconova AB is a Swedish research- and development-company specialised in developing and commercialising vaccines through Isconova’s patented adjuvant-technology and unique know-how of vaccine systems. Isconova develops vaccines together with partners on the veterinary and human markets and has, since 2005, production and sales of vaccine systems on the veterinary market. www.isconova.com
This press release has been prepared in connection with the offer for subscription of shares made by Isconova in connection with their listing on First North, and does not in itself constitute an offer to acquire shares in Isconova. Isconova has issued a prospectus for the offering referred to in this press release and the information in this notice should be read in conjunction with such prospectus. In case of any discrepancy between this announcement and prepared a prospectus, the text of the prospectus will prevail. It should also be noted that the provision of this press release does not constitute or indicate any responsibility for Isconova except as expressly stated in the prospectus or the application form. Isconova makes a reservation for any typographical errors or typos in this press release. The press release may not be published or distributed in countries where the release, publication or distribution requires additional measures beyond those required by Swedish law.
Isconova AB är ett Uppsalabaserat forsknings- och utvecklingsföretag med en patenterad teknologi som förbättrar vacciners effekt och varaktighet. Isconova utvecklar vacciner tillsammans med partners inom veterinär- och humanmarknaderna, och har sedan 2005 produktion och försäljning av vaccinsystem på veterinärmarknaden.