14 september 2020
19:20
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Demand for Nyxoah’s shares is “several times” higher than supply, even at the top end of the price range.
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The subscription period will close one week ahead of schedule. If you still want to order shares, you can still do so until Wednesday afternoon. The first stock exchange listing is now scheduled for Friday.
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The medtech company, which is developing a technology to combat sleep apnea and snoring, wanted to issue 3.8 million new shares with the IPO at 14 to 17 euros each.
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It now turns out that investor interest is so great that the stock offering is over-subscribed ‘several times’, even at the top end of the price range.
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The IPO would generate EUR 60-79 million in fresh capital, depending on the success, the issue price and whether or not the so-called over-allotment option is exercised.
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The company would value all this at the first listing at EUR 298 to EUR 368 million. It looks like it will sooner be that last amount.
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Nyxoah already had more than a third of the intended amount in his pocket. Some existing shareholders, including Robert Taub, the investor Gilde Healthcare and the multi-billion dollar companies Cochlear and Resmed, have committed to bring EUR 23 million to the table. A few new shareholders are also joining, such as the financial arm of the federal government FPIM and the consultant Roland Berger. Together they put 5.7 million euros on the table.
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