iX Biopharma

[greengiraffe]

This is the type of IPO that SGX will have going forward... those that even PE will deem risky...

Still in startup phase and I seriously don't know what sort of competitive advantages this upcoming IPO has...

Pls correct me if I m wrong...

Don't think i'll be subscribing this IPO..

iX Biopharma to launch IPO for Catalist listing

SINGAPORE: Pharmaceutical company iX Biopharma on Friday (Jul 10) announced plans for a listing on the Catalist board.

It is offering 65.5 million new shares at 46 cents each but only one million shares will be made available for the public. The remaining bulk of 64.5 million shares will be offered on placement basis.

iX Biopharma expects to raise S$27.6 million in net proceeds from the IPO.

The proposed listing comes amid a drought of IPOs on the Singapore Exchange (SGX) this year. There have been only three new Catalist listings on SGX in the first half of this year.

iX Biopharma specialises in the development and commercialisation of innovative therapies for pain management and male erectile dysfunction. It plans to use the bulk of its net proceeds to fund the clinical trials required for the development of its products.

iX Biopharma’s share offering will close on Jul 20 and its shares are expected to start trading on Jul 22.

- CNA/xq

http://www.channelnewsasia.com/news/sing...75522.html