May 11, 2018 / 5:10 AM / 2 months ago

BRIEF-Polyphor AG says increases size of IPO due to strong demand

May 11 (Reuters) - Polyphor AG:

* ANNOUNCES NARROWED PRICE RANGE AND UPSIZING OF THE IPO

* SAYS ANNOUNCED A NARROWED PRICE RANGE OF CHF 35 TO CHF 38 PER SHARE (PREVIOUSLY CHF 30.00 TO CHF 40.00)

* SAYS DUE TO STRONG DEMAND, POLYPHOR DECIDED TO INCREASE THE UPSIZE OPTION FROM CHF 40 MILLION TO CHF 55 MILLION, TARGETING TO RAISE TOTAL GROSS PROCEEDS OF UP TO CHF 165 MILLION

* SAYS ADDITIONAL PROCEEDS WILL PRIMARILY BE USED TO ENSURE FULL FUNDING OF THE CONTINUED DEVELOPMENT OF POLYPHOR’S PRECLINICAL OMPTA PROGRAM AS WELL AS GENERAL CORPORATE PURPOSES

* SAYS BOOKBUILDING PROCESS IS EXPECTED TO END ON 14 MAY 2018

* SAYS FINAL OFFER PRICE AND THE FINAL NUMBER OF OFFERED SHARES SOLD IS EXPECTED TO BE PUBLISHED ON 15 MAY 2018, PRIOR TO THE START OF TRADING ON SIX SWISS EXCHANGE

* SAYS EXPECTS THAT TRADING IN THE SHARES WILL START ON 15 MAY 2018 Source text for Eikon: Further company coverage: (Reporting By Zurich newsroom)

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