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Belgian MDx takes Euronext by storm
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Belgian MDx takes Euronext by storm

28.04.2015 - After having raised €100m in its stock market debut, MDx company Biocartis has gained 13 percent on its first trading day.

The IPO of Biocartis Group N.V. on Euronext Brussels went swimmingly last week. The Belgian molecular diagnostics company could command a lot of interest from investors and managed to rake in €100m. “The closing of this offering, a week ahead of schedule, at the top of the price range and more than €650m demand generated, underscores the strong belief in the potential of Biocartis and the appeal of our technology and strategy to institutional and retail investors, both in Belgium and internationally,” enthused CEO Rudi Pauwels.

8,695,652 new shares were offered by Biocartis, and each went for a price of €11.50. Trading started on Monday, and stock price promptly went up to €13. Consequently, the Mechelen-based company reached a market capitalisation of €526m at the end of its first day of trading.

With the money, the company aims to intensify its R&D and global commercial offerings for Idylla, Biocartis’ fully automated, real-time PCR-based molecular diagnostics system.

KBC Securities acted as Sole Global Coordinator in the Offering, KBC Securities, Kempen & Co and Petercam acted as Joint Bookrunners.


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