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Movetis Proves Gutsy with IPO: €85M for Resolor, GI Pipeline

By Staff Reports

Monday, December 7, 2009

No Abstract

Rumors of another European initial public offering in the works - this one by Brussels, Belgium-based Movetis - proved true, and the cash raised fell nicely within the range of speculators: €85 million (US$126 million), through the sale of about 6.9 million shares at €12.25 each.

About 1 million shares as an overallotment, equivalent to €12.75 million, are allocated, and if that option is exercised in full by underwriters, the money garnered by the IPO will increase to €97.75 million.

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