Investment placing
Immunotherapeutics specialist Transgene SA of Strasbourg has raised €87 million net in its placing, which was five times oversubscribed. In one of the largest follow-on offerings on Euronext in the year to date, a total of 4.8 million new shares were placed at €18.25, representing a 22.3 per cent increase in equity.
The offering also includes a 15 per cent over-allotment option granted to Bryan, Garnier & Co. This is exercisable until 13 July 2007, which would bring the gross amount of the capital increase to €100.1 million if exercised in full. Bryan Garnier was sole lead manager and bookrunner on the placing, with Nomura Code Securities as co-manager.
TSGH (a member of the Merieux–Alliance group), the majority shareholder of Transgene, which held 52.4 per cent before the increase, subscribed to 55 per cent of the Offering, and now holds 52.9 per cent of the company.
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