Mauna Kea launches IPO, could raise 47.6 mln eur

PARIS, July 21 Tue Jun 21, 2011 1:07am EDT

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PARIS, July 21 (Reuters) - Mauna Kea Technologies could raise as much as 47.6 million euros ($67.73 million) from its initial public offering, the proceeds of which it plans to use to speed up sales of the world's smallest microscope that can be used to examine the inside of the human body.

France's Mauna Kea said on Tuesday the price range of its IPO on the NYSE Euronext stock exchange was set between 10.65 euros and 13 euros a share and that the offer would close on July 4.

Founded in 2000, France's MKT has made the world's smallest microscope, Cellvizio, which stomach and lung specialists can use to screen intestines or lungs for diseases like cancer.

MKT's IPO comes after Dutch company Agendia, which markets breast cancer tests, pulled its bourse listing plans on Monday evening because of volatile market conditions, showing that the financing environment for biotech firms remains tough. [ID:nLDE75J1IF].

Also French construction materials maker Saint-Gobain (SGOB.PA) decided to postpone the IPO its glass container unit Verallia. [ID:nLDE75J09Q]

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