Algeta oversubscribed on $80m growth deal
Norwegian cancer drug firm Algeta launched a Nkr390m-Nkr470m ($67m-$82m) bookbuild on Monday evening in a capital raise to build up its US sales operation and to fund research and development, while one of its leading shareholders sells down a small portion of its holding.
Goldman Sachs, Jefferies and DnB Markets are joint bookrunners for the transaction which by Tuesday evening was oversubscribed with limited price sensitivity.
Algeta is selling 2m primary shares in the deal, 4.71% of its expanded share capital, while early stage biotech investor Abingworth is selling 1m of its 6.5m
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