BRUSSELS: Belgian pharmaceutical company Mithra, which focuses on women’s health, plans to raise up to 86.6 million euros ($98.7 million) in an initial public offering that could value the group at more than 300 million euros.
The company, which makes hormones to help with the adverse effects of menopause, said on Thursday it would offer 5,238,095 shares at a price of between 10.50 and 12.50 euros per share.
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The number of shares could be increased by 15 per cent, with a further 15 per cent increase possible depending on demand. That means the total offering will be from 55 million euros to 86.6 million euros.
Certain existing shareholders have already committed to buy 16.9 million euros of new shares, Mithra said.
Mithra said its implied market capitalisation would be between 312.4 million and 393.1 million euros.
Investors can subscribe for shares until June 26, subject to possible early closing, with trading in Mithra shares on the Euronext Brussels exchange expected to begin on or about June 30.
Mithra has appointed ING Belgium and KBC Securities as the joint global coordinators and joint bookrunners of the deal.
