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Genmab plans offering to list American depositary shares on Nasdaq in US


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Genmab plans offering to list American depositary shares on Nasdaq in US

Genmab A/S filed for a proposed public offering of its American depositary shares, with each ADS representing one-tenth of one ordinary share.

The Denmark-based biotechnology company, which is focused on developing differentiated antibody therapeutics to treat cancer, has applied to list the ADSs on the Nasdaq Global Select Market under the ticker GMAB.

Genmab's ordinary shares are currently listed on Nasdaq Copenhagen under the symbol GEN.

The ADSs will be issued under Genmab's existing American depositary receipts program, which is administered by Deutsche Bank Trust Co. Americas.

Genmab's board has not yet finally decided whether to proceed with the listing and offering. The timing, number of ADSs, and number of underlying ordinary shares of Genmab and the relevant subscription price have not yet been determined.

Bank of America Merrill Lynch, Morgan Stanley and Jefferies are joint book-running managers for the proposed offering, while Guggenheim Securities and RBC Capital Markets are joint lead-managers.