3rd Mar 2020 19:02
(Alliance News) - Arix Bioscience PLC said Tuesday its investee Imara Inc has priced its US initial public offering at between USD16.00 and USD18.00 per share.
Arix said this IPO price will up the value of its shareholding in Imara to between USD21.9 million and USD24.6 million, compared to a cost of USD15.0 million.
Imara has proposed listing 4.5 million shares, which at the IPO price midpoint, would raise USD75.7 million.
Arix has indicated it is interested in purchasing shares in the IPO.
"The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size, price or other terms of the offering," Arix added.
Shares in Arix Bioscience closed 0.9% higher in London on Tuesday at 81.70 pence each.
By Paul McGowan; [email protected]
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