OncoArendi sets IPO price at PLN 29 per share

WSE-bound biotech company OncoArendi Therapeutics set its IPO price at PLN 29 apiece and will sell 2 million shares, all that it planned to float. This puts the value of the IPO at PLN 58 million, the company said. Individual investors will be able to acquire 140k shares, with the rest going to institutional investors. The offered stake accounts for 14.63 percent of the share capital. “We are very pleased with the great interest in the company, including from the major OFEs and TFIs. Several dozen meetings have confirmed investors' interest in our projects for the development of new medicines and the prospects for their commercialization. On the basis of submitted declarations of subscription of shares by financial and individual investors, we know that demand has significantly exceeded supply. This means that our company has been positively evaluated by the capital market. As a result of the strong demand of institutional investors, we moved some of the shares to this tranche and at the same time we expect a significant reduction for individual investors, ”said Marcin Szumowski, CEO of OncoArendi Therapeutics.