STOCKHOLM, December 21 /PRNewswire/ -- Karolinska Development has successfully completed a new share issue raising 380 MSEK (approximately 36 MEUR). This will secure Karolinska Development's continued active investment strategy in its portfolio companies.
The significant interest in this share issue shows confidence in the strength of our business model and will enable us to pursue our long term investment strategy. I am also pleased that we have attracted 450 new shareholders giving Karolinska Development a total of around 750 shareholders. This further broadens our ownership base ahead of our planned IPO which we intend to carry out in 2010, said Conny Bogentoft, CEO of Karolinska Development.
The new issue covered 6 146 431 series B shares at an issue price of 62 SEK, corresponding to 19 percent of the capital. Five of the largest shareholders in Karolinska Developments, The Third Swedish National Pension Fund, stersjostiftelsen, Nasudden Investeringar AB, Foundation Asset Management and Praktikerinvest signed for shares corresponding to 55 MSEK.
SEB Enskilda led the share issue with EFG Bank and Singer Capital Markets as co-leads.
Karolinska Development manages one of the largest portfolios of life science companies in Europe. Using a unique, highly cost-efficient business model, the management team guides the commercialization of world-class life science innovations, helping to shape the next-generation pharma industry. Since 2003, Karolinska Development has built a portfolio of some 40 companies; among the company's projects 12 compounds are undergoing clinical trials. The portfolio also includes a total of 19 potential first-in class products.
http://www.karolinskadevelopment.com
For more information, please contact: Gunnar Casserstedt, CFO, Karolinska Development AB Phone: +46-(0)73-068-3700, e-post: gunnar.casserstedt@karolinskadevelopment.com
SOURCE: Karolinska Development AB
CONTACT: For more information, please contact: Gunnar Casserstedt, CFO,Karolinska Development AB Phone: +46-(0)73-068-3700, e-post:gunnar.casserstedt@karolinskadevelopment.com
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