Ebb & Flow Focus

German sector watchers breathed a sigh of relief last week after Epigenomics AG became the first biotech company to list in Germany since February 2001. But investors still say it would be better for quality IPO candidates to wait at least until after the summer before floating, based on a need for investors to gain confidence in the markets.

Epigenomics (FSE:ECX; Berlin, Germany) listed last Monday at a value of E143.7 million ($179 million), raising E41.6 million ($51.8 million) at E9. The shares closed Friday at E8.30. About a third of the money came from German investors, with the rest from the U.S., U.K. and Switzerland. ...