The biotech company Arctic Bioscience has today been admitted to trading on Euronext Growth (ticker code: ABS).
Arctic Bioscience is a Norwegian biotechnology company focused on developing, manufacturing and marketing ingredients extracted from herring roe.
Recently, the company raised NOK 300 million through an offering of new shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 345 million. The private placement attracted strong interest from Norwegian and international investors, and was multiple times oversubscribed, announced Arctic Bioscience .
“The capital we raised in connection with the listing will enable Artic Bioscience to progress pharmaceutical development through phase II, and move forward with the construction of a state-of-the-art manufacturing facility,” says Danielle Glenn, CFO of Arctic Biosciences, in the listing video .
The shares in the new issue were sold at NOK 31.00 corresponding to a market capitalisation of NOK 753 million.
“We are very pleased with the response to the listing of Arctic Bioscience and look forward to the next phase of our journey,” says Ole Arne Eiksund, CEO of Arctic Bioscience.
Video of the bell ceremony: https://youtu.be/5WXaxmj0_O8
About Arctic Biosciences Arctic Bioscience is a biotech company founded based on specialised know-how and competence on the unique properties of bioactive marine compounds, and has developed a proprietary platform technology that serves two unique businesses developing products for pharmaceutical and nutraceutical application. The Company is strategically located in Ørsta on the West Coast of Norway providing direct access to the raw material, and is led by a team with 30+ years of pharma and marine extracts experience. For more information, visit www.arctic-bioscience.com.
