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Sweden's Bonesupport Holding files for IPO

Bonesupport Holding AB is looking to raise up to 500 million Swedish kronor in a planned IPO of 18,518,519 shares priced anywhere between 27 kronor and 31 kronor, German magazine European Biotechnology reports.

Nasdaq Stockholm approved the company's application to list on the exchange with pricing to occur by June 21.

Bonesupport will also grant underwriters an option to purchase up to an additional 2,777,778 of the shares offered, worth 75 million kronor in all.

Sweden-based Bonesupport Holding makes bioceramic materials that can be injected in fractured bones to help them heal and redevelop.

Swedbank Robur is the lead investor for the offering, and the company intends to use the proceeds to obtain regulatory approvals and expand distribution of its products in the U.S.

Bonesupport has a distribution agreement with Zimmer Biomet Holdings Inc. to sell its bone-repair therapy Cerament BVF in the U.S.

As of June 9, US$1 was equivalent to 8.73 Swedish kronor.