Biotech company Sequana Medical from Gent pulls ipo underway

Economy The biotech company Sequana Medical, specializes in medical equipment and located in Gent, Thursday its ipo yet launched, after an earlier administrative delay. The ipo can be up to 38.5 million euro to deliver, as announced Sequana in a press release. The shares will likely be on the 11th of February for the first time, listed on the Brussels stock exchange.

The company targets the issue of over 3.2 million new shares, with the price range 8.5 to 9 euro per share. The ipo would be that way at least 27.5 million euros and up (with the activation of verhogingsoptie) 38.5 million euro result.

"The implied market capitalisation of the company at the midpoint of the price range will 119,5 million euro", according to the biotech company.

Relocation to Ghent

Sequana Medical was in november last year, the beursplannen announced. The concrete launch had to be postponed to this year, due to an administrative delay in the transfer of the activities from Switzerland to Belgium.

The biotechnology company is of Swiss origin, but recently moved its headquarters to Ghent. It focuses on the development of innovative behandelingsoplossingen to liver disease, heart failure, malignant ascites and other vochtbalansproblemen to treat.