Biotech cos succeed in recent TASE offerings

Maayan Ventures and Evogene’s offerings were oversubscribed, and BiondVax also successfully closed its public tender.

The secondary offering by Maayan Ventures Ltd. (TASE:MAYN) has raised NIS 60 million in an offering of convertible bonds and warrants exercisable in one year, which will raise another NIS 40 million. The secondary offering was 25-fold oversubscribed; the institutional tender was oversubscriber 2.8-fold.

Agro-biotechnology and biofuel company Evogene Ltd. yesterday completed the public tender for its IPO, raising NIS 24 million. The offering was oversubscribed 2.4-fold. Evogene is a spin-off of Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN)

Universal flu vaccine developer BiondVax Pharmaceuticals Ltd. also successfully closed the public tender of its IPO, raising NIS 12 million. Sources inform ''Globes'' that the company was able to close the tender when underwriters bought shares and they had undertaken in the company’s prospectus.

Published by Globes [online], Israel business news - - on June 12, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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