HBM Bioventures wants up to 150 mln Sfr from IPO

ZURICH, Jan 28 (Reuters) - Swiss biotech investor HBM Bioventures plans to raise up to 150 million Swiss francs ($137.7 million) from its initial public offering next month, when it will also list all existing shares.

Citing a difficult market environment, the venture capitalist said the share sale was "limited" and that it would only proceed if there was sufficient demand from quality investors at a good price.

But the listing of the existing share would take place regardless of the sale, HBM said.

HBM has a portfolio of start-up human medicine, biotech and medtech companies and has held stakes in groups such as Basilea (BSLN.S), Newron Pharmaceuticals (NWRN.S) and Cytos Biotechnology (CYTN.S) from before they went public.

The group said it could place a maximum of 1.55 million shares, including 1.08 million new shares. The company has 11.3 million shares outstanding.

HBM will announce a price range on Feb. 6 and the share subscription period will end on Feb. 7, with existing shareholders receiving the right to purchase shares.

It will announce the final price on Feb. 12 and the first trading day was expected on Feb. 14, HBM said.

A syndicate handling the transaction is led by UBS Investment Bank (UBSN.VX) and also includes Merrill Lynch International MER.N, Sal. Oppenheim and Sarasin & Cie/Neue Zuercher Bank (BSAN.S). (Reporting by Douwe Miedema; Editing by David Cowell)