Devgen greenshoe exercised in full, raising IPO to €33.7 million

By Jennifer Chiou

New York, June 27 - Devgen announced the underwriters of its initial public offering fully exercised the €3.7 million greenshoe, increasing the IPO to €33.7 million.

Lead manager KBC Securities exercised the option for 498,544 new shares at €7.50 per share.

The option included up to 600,000 shares - 15% of the shares in the base offering - at €7.50 per share, consisting of an over-allotment option on up to 101,456 shares and a warrant for up to 498,544 shares.

Gent, Belgium-based Devgen, a biotechnology platform company, issued 4,498,544 new shares including the greenshoe.

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