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