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Argenx prices upsized offering of American depositary shares

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Argenx prices upsized offering of American depositary shares

Netherlands-based argenx SE priced a public offering of 4,440,000 American depositary shares at $52 per share for expected gross proceeds of about $231 million.

The offering was upsized from the initial $150 million of shares. Each ADS represents the right to receive one ordinary share.

Argenx granted underwriters an option to buy up to an additional 666,000 ADSs, representing 15% of the shares sold in the offering.

The offering is expected to close Dec. 18, subject to customary closing conditions.

Cowen and Piper Jaffray & Co. are acting as joint book-running managers for the offering, with JMP Securities and Wedbush PacGrow as co-managers. Kempen & Co. is acting as the company's adviser in the offering.