PREDIX Pharmaceuticals (PRDX)

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Predix may cancel IPO

The biotech company's flotation has been postponed from one day to the next for a week.

Tali Tsipori 26 Oct 05 20:39

Is the IPO of Israeli biotechnology company Predix liable to be cancelled? After the pricing date has been postponed from one day to the next for a week, it seems that the company will be forced to shelve is flotation plans. On the website IPO Home, the pricing day for the issue is described as D-T-D (day-to-day), a situation in which the lead underwriter has not received enough orders for the company's shares. In other words, there is a fair chance that the flotation will be postponed or even cancelled altogether. Predix seeks to raise $55 million at a company value of $232 million.
The lead underwriters for the flotation are UBS Investment Bank and Deutsche Bank. Co-managers are CIBC World Markets and ThinkEquity Partners.

Published by Globes [online], Israel business news - www.globes.co.il - on October 26, 2005

http://www.globes.co.il/serveen/globes/docview.asp?did=1000022663&fid=942

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