Ablynx investor Sofinnova sells down stake

BRUSSELS Mon Nov 18, 2013 7:54am EST

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BRUSSELS Nov 18 (Reuters) - Belgian biotech group Ablynx said on Monday that Paris-based venture capital firm Sofinnova Partners, which has a 7.02 percent stake in the group, had launched a private placement to sell shares in the company.

Ablynx could not say how large a stake Sofinnova wanted to sell, but based on Monday's prices, the whole 7.02 percent stake would be worth about 25 million euros ($33.7 million).

The regulator had suspended the group's shares on Monday, pending the results of the sale.

KBC Securities and Kempen were appointed as joint bookrunners for the placement. ($1 = 0.7421 euros) (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)

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