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Almost a fifth of the pharma group’s shares sold go to private investors.
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The pharmaceutical company Hyloris will go to the Brussels stock exchange on Monday at 10.75 euros per share. This subscription price gives Hyloris a market value of 253 million euros. This figure can increase if an over-allotment option is exercised in which the accompanying bankers create additional shares. With the operation, Hyloris achieves a minimum of 62 and a maximum of 71 million euros (with an over-allotment option).
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The subscription price is exactly in the middle of the initial price range of 10 to 11.50 euros. In the course of the IPO, the price range was narrowed to 10.75 to 11.50 euros.
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WHAT SHOULD YOU KNOW?
We went through the 228 pages prospectus for you and list here what you need to know about Hyloris.
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CEO Stijn Van Rompay may ring the opening bell on Euronext Brussels on Monday morning. Small investors are already welcoming Van Rompay: they subscribed to 18.4 percent of the shares sold. That is double the minimum of 10 percent. Immediately an indication of the regained appetite for the fair, especially among young people (the ‘Robinhoods’).
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Small investors who registered via KBC or Van Lanschot (the accompanying banks) receive 70 to 85 percent of the ordered shares. Those who registered through another bank will receive 45 to 60 percent of the requested shares.
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High yield, low risk
Series entrepreneur Stijn Van Rompay founded the pharmaceutical company six years ago. Hyloris hardly makes any sales. In the first quarter of 2020 it was 63,000 euros, according to the prospectus. Two products are approved and ready to launch. Compared to a traditional biotech company, the losses are relatively smaller because Hyloris does not have to conduct expensive research into medicines.
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The company starts from patent-pending medicines to make new dosage forms or to develop new, better-acting medicines with a mix of existing molecules. Nevertheless, the prospectus warns that the road to profitability is uncertain, even if the name stands for ‘High yield, low risk’.
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Read the interview with founder Stijn Van Rompay here.
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