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Today, the shares of Cassiopea were traded for the first time under the “Main Standard” of SIX Swiss Exchange, opening at CHF 35.00. This corresponds to a total market capitalization of around CHF 350 million.
Cassiopea has accelerated the closing of the bookbuilding and fixed the offer price at CHF 34.00 per share. The issued share capital of Cassiopea comprises 10,000,000 registered shares with a nominal value of EUR 1.00 per share. The offering consisted solely of the sale of secondary shares by Cassiopea’s majority shareholder Cosmo Pharmaceuticals S.A. which reduced its 97% shareholding to below 50%. 4,800,000 shares were made available and sold in the offering. In addition, Cosmo has granted the syndicate banks an over-allotment option of up to an additional 363,640 shares, which can be exercised within 30 calendar days after the first day of trading.
Cassiopea is a clinical-stage specialty pharmaceutical company focused on developing and commercializing innovative and differentiated medical dermatology products. Initial focus is on the topical treatment of acne, androgenic alopecia (or AGA) and genital warts. The portfolio comprises four unencumbered clinical candidates, for which Cassiopea owns the worldwide rights. For further information on Cassiopea, please visit www.cassiopea.com.
