According to the listing prospectus, 435,000 shares were to be placed in public hands, a number representing 34% of the total 1,287,000 outstanding Modex registered shares appearing in the Commercial Register. If the overallotment (green shoe) option is exercised by the underwriters, that proportion could rise to 39%. 375,000 of the shares on offer are part of a capital increase associated with the IPO.
The company is headquartered in Lausanne, Switzerland, and has key know-how in the restoration, replacement and regeneration of human tissue. Modex has developed a method for producing new layers of skin from a patient's own hair.
Founded in 1996, Modex Therapeutics Ltd. today employs approximately 20 individuals. 1999 operating earnings rose 67% versus the prior year to stand at CHF 154,500. During the past year, the company spent roughly CHF 4 million on research and development.
