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France's Mauna Kea Launches IPO On Regulated Market Of NYSE Euronext

Mauna Kea Technologies revealed the launch of its initial public offering and proposed listing of its shares on compartment B or C of the regulated market of NYSE Euronext in Paris. The company disclosed launch of open price offering and global placement within a price range of 10.65 euros and 13.00 euros per share.

The company noted that 3.29 million new shares would be issued, representing an amount of approximately 38.9 million euros. Mauna Kea announced extension clause with a maximum of 492,957 new shares and also over-­allotment option with a maximum of 566,901 new shares.

The open price offering and global placement are due to close on 4 July 2011.

Mauna Kea's offering price is expected to be announced on 5 July 2011. Further, trading on the regulated market of NYSE Euronext in Paris is expected on 6 July 2011.

The capital raised by means of this initial public offering will be used to provide the company with additional resources to finance its operations and develop its ambitious strategy to become the in vivo microscopic imaging leader. The company plans to use the proceeds primarily for its sales and marketing strategy, with the intention of significantly accelerating the deployment of its sales network in order to address the global market for healthcare facilities and for new clinical trials to validate the use of existing products of the company for new diseases, either in the field of gastroenterology or in other fields such as urology and pulmonology, as well as future products of the company.

by RTTNews Staff Writer

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