- Initial market capitalisation of €253 million
- Strong support from the local retail investors (approx. 18.4% of the offered shares)
Belgium-based biopharmaceutical company Hyloris Pharmaceuticals (ticker symbol: HYL) today began trading on Euronext Brussels (Compartment B). Through this IPO, Hyloris joins the franchise of 22 pharmaceutical companies currently listed on Euronext’s markets, representing a total market capitalisation of €143 billion (per 31 May 2020).
Based in Liège, Belgium, Hyloris is an innovative specialty pharmaceutical company focused on adding value to the healthcare system by reformulating well-known pharmaceuticals. By unlocking the untapped potentials of existing medications, Hyloris creates new and improved treatment options. Hyloris’ aim is to address the unmet medical needs of patients, hospitals, physicians, payors and other stakeholders in the healthcare system.
Hyloris Pharmaceuticals intends to use the proceeds of the IPO to fund the development of its existing portfolio of product candidates, the establishment a commercial team in the U.S. for Hyloris’ IV Cardiovascular Portfolio as well as the expansion of its product pipeline.
With an Offer Price at €10.75 per share, Hyloris’ total offering size amounts to €61.8 million, or €71 million, assuming the exercise in full of the Over-allotment Option. With a total of 23,551,768 shares admitted to trading, Hyloris has an initial market capitalisation of €253.2 million, or €262.45 million, assuming the exercise in full of the Over-allotment Option.
Stijn Van Rompay, Chief Executive Officer and co-founder of Hyloris, commented: “Our listing today and the funds raised will propel Hyloris to deliver significant value for all of its stakeholders including patients, physicians and payors in the healthcare system, as well as our shareholders and employees. I look forward to keeping the market updated on our progress.”
To mark Hyloris Pharmaceuticals’ first trading day, Stijn Van Rompay, CEO of Hyloris, rang the opening bell in Brussels.
