March 15, 2010 / 6:32 AM / 10 years ago

Ablynx to raise 50 mln euros in share issue

BRUSSELS, March 15 (Reuters) - Belgium’s Ablynx ABLX.BR said it is raising 50 million euros ($69 million) in a share issue to fund research, development with pharmaceutical partners and maybe commercialise certain products itself.

The biotechnology group said it had priced the shares at 7.50 euros, in the middle of the range announced last Wednesday of 7.20 to 7.75 euros per share and just under Friday’s closing price of 7.71 euros.

The group said a further 400,000 existing shares were being sold, worth 3 million euros.

KBC Securities and UBS acted as joint bookrunners and global coordinators, with Piper Jaffray acting as co-manager. ($1=.7257 euros) (Reporting by Brussels newsroom; Editing by Greg Mahlich)

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