Biotech group Philogen eyes Milan IPO in Q1

GVS

01/02/2021 13:47

MILAN, Feb 1 (Reuters) - Italian-Swiss biotechnology company
Philogen said on Monday it aims to float around 10% of its
shares on the Milan stock exchange, in the first initial public
offering (IPO) on Italy's main market this year after a poor
2020.
    In 2020 only 706 million euros ($852.92 million) were raised
through IPOs in Italy. The offer by Italian filter maker GVS
 GVS.MI  was the only listing on Milan's main market last year,
raising 570 million euros in June. 
    Philogen aims to offer up to 4,061,111 new shares in an IPO
expected in the first quarter of 2021, the company said in a
statement sent to investors. 
    The group, which is engaged in the discovery and development
of biopharmaceutical products for the treatment of
life-threatening conditions, mainly anti-cancer drugs, said it
would use the offer's proceeds to complete some Phase III
studies and develop new products. 
    Goldman Sachs International and Mediobanca  MDBI.MI  are the
joint global coordinators for the IPO.
($1 = 0.8277 euros)

 (Reporting by Elisa Anzolin; editing by Agnieszka Flak)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))