BerGenBio ASA completed its IPO of 16 million new shares priced at 25 Norwegian kroner apiece on the Oslo Stock Exchange, raising gross proceeds of 400 million kroner.
BerGenBio will have a market capitalization of 1.24 billion kroner following the offering. The company will have 49,742,200 outstanding shares following the issuance of the new shares.
The net proceeds from the offering, along with existing cash resources, will be used to finance the completion of the company's clinical trials, research and development and general corporate activities.
Further, joint global coordinators ABG Sundal Collier, Arctic Securities and DNB Markets have exercised an option for an additional 1 million shares, bringing the total number of shares issued to 17 million.
As of April 5, US$1 was equivalent to 8.60 Norwegian kroner.