Brain AG IPO priced at the bottom of range - source

BRAIN Biotech AG

03/02/2016 09:25

FRANKFURT, Feb 3 (Reuters) - German industrial biotech group 
Brain AG  BNNn.TG  has priced its initial public offering (IPO) 
at 9 euros per share, the bottom end of its indicative range of 
9-12 euros, a person close to the matter told Reuters on 
Wednesday. 
    Demand, mainly from Germany, Switzerland and the United 
Kingdom, was sufficient to sell at least 3.5 million shares, the 
source said, which would bring in proceeds of 31.5 million euros 
($34 million). 
    The subscription period is set to end later on Wednesday. 
Shares in Brain are due to start trading on the stock exchange 
on Feb. 9. 
 
($1 = 0.9165 euros) 
 
 (Reporting by Alexander Huebner; Writing by Maria Sheahan; 
Editing by Andreas Framke and Victoria Bryan) 
 ((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters 
Messaging: maria.sheahan.thomsonreuters.com@reuters.net)) 
 
Keywords: BRAINAG IPO/