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  • Deal or case news
  • 08-07-2015


NautaDutilh together with Sidley Austin LLP successfully assisted Kempen & Co, KBC Securities, and Peel Hunt in their role as underwriters in the initial public offering of Kiadis Pharma N.V. and the listing of its shares on the Amsterdam and Brussels market of Euronext.

Trading in the shares commenced 2 July. Kempen & Co acted as Sole Global Coordinator and Kempen & Co and KBC Securities together acted as Joint Bookrunners. Peel Hunt was appointed Co-Manager. While many biotech companies favour NASDAQ in New York, Kiadis has opted for Euronext which, according to CEO Manfred Rüdiger, was a conscious choice.

Kiadis Pharma
Kiadis Pharma is a clinical stage biopharmaceutical company focused on research, development and future commercialisation of cell-based immunotherapy products for the treatment of blood cancers and inherited blood disorders. Kiadis Pharma is committed to developing innovative and potentially life saving therapies for patients with late-stage blood cancers and patients with inherited blood disorders, who are in need of a transplant, an area of significant unmet medical need.

The Offering
The book was well subscribed with demand from both generalist and specialist investors from the Netherlands, Belgium, France, the United Kingdom, Scandinavia and the United States. Kiadis Pharma issued 2,613,636 new shares with an offer price of EUR 12.50 per share. Taking into account the offer price and the prior existing shares, Kiadis Pharma has an market capitalization of EUR 166.4m. The gross proceeds of the IPO for the Company amount to approximately EUR 32.7m. A total of approximately 20% of the total offering of shares was allocated to retail investors from the Netherlands and Belgium. The offering was successful despite difficult market conditions due to the Greek default situation.

Team
The team that advised the Underwriters consisted of Petra Zijp, Jochem Polderman, Joppe Schoute and Paul van der Bijl.

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