Idorsia Secures Strong Investor Backing in Oversubscribed Share Offering

Swiss biopharmaceutical firm Idorsia Ltd has successfully concluded a capital increase that exceeded initial expectations, demonstrating robust market confidence. The company expanded its originally planned share issuance due to substantial investor demand, raising critical funds to support its strategic objectives through to profitability.

Market response proved stronger than anticipated, with Idorsia placing 16.4 million new shares compared to the initially planned 15 million. Priced at 4.00 Swiss francs per share, the offering generated gross proceeds of 65.6 million CHF. The placement price mirrored the volume-weighted average share price over the preceding 30 trading sessions, representing a valuation acceptable to both the company and investors.

Offering Key Details:
– Gross proceeds: 65.6 million CHF
– New shares issued: 16.4 million
– Price per share: 4.00 CHFRead more...