BioNTech SE Sees IPO Range of $18-$20/ADS

Date : 09/24/2019 @ 11:10AM
Source : Dow Jones News
Stock : Sanofi (SNY)
Quote : 47.17  1.22 (2.66%) @ 12:59AM
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BioNTech SE Sees IPO Range of $18-$20/ADS

Sanofi (NASDAQ:SNY)
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By Chris Wack

 

BioNTech SE said in a filing Tuesday it is planning on selling American Depositary Shares in its initial public offering for an expected $18 to $20 an ADS.

The Germany-based oncology treatment company said it would sell 13.2 million ADSs, while granting the underwriters the option of buying 1.98 million ADSs. BioNTech said to date it has raised $1.3 billion of capital in private placements and from its collaborators, which include Genentech, Sanofi, Genmab, Genevant Sciences, Eli Lilly, Bayer AG and Pfizer.

For the first six months of 2019, BioNTech said it had revenue from contracts with customers of 51.9 million euros, compared to EUR43.4 million in the same period a year earlier. The company reported a loss for the first half of 2019 of EUR90.7 million, compared to 2018's loss of EUR23.3 million.

BioNTech said it plans on listing its ADSs on the Nasdaq under the symbol BNTX.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

September 24, 2019 06:55 ET (10:55 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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