October 24, 2019 / 4:18 PM / 18 days ago

BRIEF-Arterra Bioscience Completes Placement Of 2.2 Mln Shares in IPO On Aim Italia Market

Oct 24 (Reuters) - Arterra Bioscience IPO-ART.MI:

* COMPLETES PLACEMENT OF 2,208,000 ORDINARY SHARES UNDER INITIAL PUBLIC OFFERING ON AIM ITALIA MARKET OF ITALIAN STOCK EXCHANGE

* UNDER IPO ISSUES 1.5 MLN NEW SHARES, 0.4 MLN EXISTING SHARES AND 0.3 MLN EXISTING SHARES UNDER EXERCISE OF GREENSHOE OPTION GRANTED BY SHAREHOLDER MARIA GABRIELLA COLUCCI

* SHARES OFFERED AT PRICE OF EUR 2.6 PER SHARE

* VALUE OF PLACEMENT IS EUR 5.7 MLN INCLUDING THE GREENSHOE OPTION

* PLACEMENT GENERATED DEMAND OF OVER 7 TIMES THE OFFER (NET OF PORTION RESERVED FOR INTERCOS SPA) BY ITALIAN AND FOREIGN INVESTORS

* INTERCOS ENTERED THE CAPITAL OF THE COMPANY AS ANCHOR INVESTOR AND SUBSCRIBED TO THE OFFER FOR ABOUT EUR 1.5 MLN OR 8.8% OF CAPITAL

* COMPANY’S CAPITAL POST PLACEMENT CONSISTS OF 6.5 MLN SHARES AND MARKET CAPITALISATION IS ABOUT EUR 17 MILLION

* THE FREE FLOAT IS EQUAL TO 22.4% OF THE COMPANY’S SHARE CAPITAL (26.9% IN THE EVENT OF FULL EXERCISE OF THE GREENSHOE OPTION)

* THE START OF TRADING IS SCHEDULED FOR OCTOBER 28, 2019

Source text - bit.ly/31KEkf2

Further company coverage: (Gdansk Newsroom)

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