Zealand Pharma: launches ADS offering in the US.
(CercleFinance.com) - Danish biotechnology firm Zealand Pharma announced on Wednesday the launch of an IPO of American Depositary Shares (ADS) in the US, in a move to fund several clinical trials.
The company said it plans to offer up to 3.9 million ADS, plus an over-allotment option of up to 15%.
ADSs are US dollar-denominated shares issued by a depositary bank which enables the trading of non-US companies in the US. Each ADS represents one underlying share in Zealand.
Amongst other things, Zealand intends to use the net proceeds from the offering to fund clinical trials and registration of glepaglutide as a treatment for short bowel syndrome.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The company said it plans to offer up to 3.9 million ADS, plus an over-allotment option of up to 15%.
ADSs are US dollar-denominated shares issued by a depositary bank which enables the trading of non-US companies in the US. Each ADS represents one underlying share in Zealand.
Amongst other things, Zealand intends to use the net proceeds from the offering to fund clinical trials and registration of glepaglutide as a treatment for short bowel syndrome.
Copyright (c) 2017 CercleFinance.com. All rights reserved.