BioCentury
ARTICLE | Finance

Ebb & Flow

March 29, 2004 8:00 AM UTC

While the IPOs sails drooped in the U.S., Basilea (SWX:BSLN) - one of Europe's leading spinout companies - made it to market last week and commanded a market cap of more than a half a billion.

BSLN raised CHF205.8 million ($162 million) through the sale of 2.1 million shares at CHF98. Although the price was below the mid-point of its proposed range of CHF90-CHF115, and the shares closed Friday down CHF1 to CHF97, the infectious diseases and dermatology company closed the week with a market cap of CHF718 million ($565 million). ...