-IPO raises €23 million-
- 4.7x oversubscribed, with total demand at €93.9 million-
Paris – 7 April 2014 – EnterNext, the Euronext subsidiary designed to promote and grow its market for SMEs[1],today congratulated Genomic Vision,a biotechnology company specialising in molecular diagnostics for genetic diseases, on its successful listing in compartment C of Euronext’s regulated market in Paris.
Genomic Vision is a molecular diagnostics company that develops and markets diagnostic tests and research tools based on analysing individual DNA molecules. To do so, it uses the “molecular combing” technology discovered by Aaron Bensimon, Chairman of the Executive Board and co-founder of Genomic Vision, who was working at the time at the Institut Pasteur’s Unité de Stabilité des Génomes unit in collaboration with a research team from Ecole Normale Supérieure. This cutting-edge technology detects quantitative and qualitative variations in the genome and establishes their role in a given pathology. The company focuses primarily on oncogenetics, the main market for genetic testing.
Genomic Vision (ticker symbol: GV) was listed through a Global Offering[2]. Given very strong demand — a total €93.9 million — the company decided to fully exercise the extension option. The admission and issue price of Genomic Vision shares was set at €15.00, in the middle of the indicative price range.
Altogether 1,533,332 shares were issued, raising a total of €23 million before any exercise of the over-allotment option. Based on a total 4,266,907 shares admitted to trading at €15 per share, Genomic Vision’s market capitalisation stands at €64 million.
The settlement and delivery of the Offering occurred on 4 April 2014. From April 2 through April 4, Genomic Vision shares were traded on an “as-if-and-when-issued” basis.
“We would like to extend a warm welcome to Genomic Vision, and are proud to help raise capital for a growth company specialised in diagnostics for genetic diseases and cancer. Its listing testifies to the very dynamic market for IPOs. Genomic Vision will be able to draw on EnterNext’s advice and services as it makes the most of its presence on the stock market,” said Eric Forest, Chairman and CEO of EnterNext.
Aaron Bensimon, Genomic Vision’s co-founder and CEO, added “We are delighted to join Euronext’s Paris market. We would like to thank all of our shareholders, old and new, who helped us achieve this milestone — and who will now be accompanying us as we roll out our technology in Europe and expand its scope to new pathologies.”
To celebrate the continuous trading in its shares that started today, Aaron Bensimon and his team rang the bell marking the opening of Euronext’s financial markets.