KNF approves OrcoArendi IPO prospectus

The Financial Supervision Authority approved the IPO prospectus of a biotechnological firm OncoArendi Therapeutics, which specializes in oncological pharmaceuticals. The company plans to offer 500k-2 million new shares under its IPO planned for the turn of March and April, the company said. “The company's intention is to offer some 90 percent of shares to institutional investors and 10 percent to individual investors,” OncoArendi said. “The strategic goal of the company is to bring research and development projects to the optimal moment enabling their commercialization, by signing a partnering agreement or selling licenses to global pharmaceutical companies,” company’s CEO Marcin Szumowski previously said. The company's significant shareholders agreed to a lock-up period of 360 days.