* France’s MKT sets IPO price range at 10.65-13 euros/share
* Offer to run until July 4, trading expected on July 6
* IPO comes after Agendia, Verallia pulled plans on Monday
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PARIS, June 21 (Reuters) - Mauna Kea Technologies (MKT), the maker of the world’s smallest microscope used to examine the inside of the human body, could raise as much as 47.6 million euros ($67.73 million) from its initial public offering.
Mauna Kea is forging ahead with its listing plans while more than 15 European IPO deals have failed this year, including Agendia, a Dutch maker of breast cancer tests, and Verallia, Saint-Gobain’s glass container unit.
France’s Mauna Kea, set to list on the NYSE Euronext, said on Tuesday the price range of its IPO was set at between 10.65 euros and 13 euros a share and that the offer would close on July 4.
Founded in 2000, France’s MKT has made the world’s smallest microscope, Cellvizio, which stomach and lung specialists can use to screen intestines or lungs for diseases like cancer. Mauna Kea means White Mountain, a dormant volcano in Hawaii, where some of the world’s most powerful telescopes stands.
MKT plans to use the cash from the IPO to develop its business and boost its sales force to reach hospitals worldwide as well as conduct clinical trials to see if Cellvizio can be used to examine other disease areas like urology.
Shares in other French medical technology shares have surged following their IPO’s last year. Shares in Stentys , maker of a self-expandable stent to treat heart attacks, have gained 86 percent since their September listing and Carmat , which is developing an artificial human heart, has climbed 710 percent since they began trading a year ago.
MKT’s offer price is expected to be announced on July 5 and trading should begin on July 6. Societe Generale is the lead manager and bookrunner, while Dexia and Gilbert Dupont are co-lead managers.
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