May 20, 2020 / 5:24 AM / 11 days ago

Idorsia raises $340 mln in new share offering

ZURICH, May 20 (Reuters) - Idorsia has raised 330 million Swiss francs ($340.31 million) from a share offering, the Swiss drugmaker said on Wednesday, as it bolsters its coffers for the planned launch of an insomnia drug and for research and development.

Idorsia placed 11 million new registered shares of 0.05 francs par value each at 30 francs per new share. The shares, which amount to 8.4% of Idorsia’s currently issued share capital, will likely begin trading Friday, it said.

Barclays Bank and Credit Suisse acted as joint bookrunners for the offering. Octavian acted as a selling agent. ($1 = 0.9697 Swiss francs) (Reporting by John Miller, editing by John Revill)

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