Symetis launches its IPO on Euronext Paris

20.03.2017 09:10

Related tags

Euronext Paris

Symetis develops, produces and markets heart valve replacement solutions for the treatment of severe cardiac valve conditions. The company plans to raise € 55.8 million that could be increased to approximately € 64.1 million in the event of full exercise of the Overallotment Option. It's already the third younger Swiss technology company going public this year.

Symetis has today announced the launch of its initial public offering with a view to listing its shares for trading on the regulated market of Euronext in Paris. The start of trading of the Company’s shares on Euronext Paris is planned for 4 April. It’s the second attempt of the company to go public.

Jacques R. Essinger, PhD, Chief Executive Officer of Symetis, commented: “We are well positioned to become the leading European structural heart player by leveraging our expertise, products and know-how to further capture market share in the TAVI market and expand into other segments of the structural heart field, such as, mitral valve replacement and repair. Our IPO is intended to provide Symetis with the resources needed to accelerate the pace of its development and continue its leadership in structural heart”.

On 17 March 2017, the Autorité des Marchés Financiers (AMF) approved the English language prospectus (including a French language summary) relating to Symetis’ initial public offering and listing of its shares on the regulated market of Euronext in Paris by granting visa no. 17-097.

Revenues of CHF38 million in 2016
Symetis develops, manufactures and markets next-generation percutaneous heart valve replacement solutions for the treatment of severe cardiac valve conditions. Recognized by interventional cardiologists and surgeons for their clinical performance and ease of use, the company’s products and their delivery systems are based on proprietary design and delivery technologies and are marketed and sold internationally, including 70% in the DACH region (Germany, Switzerland, Austria). Growing at a strong and sustained CAGR of 55% since 2012, the company generated revenues of CHF 38.4 million in 2016 (as well as losses of CHF 16.3 million in 2016).

Public offering and placement for institutional investors
The offering of the new shares of Symetis will consist of a global placement (the “Offering”) including:

  • — a public offering to retail investors in France made by means of an open price offering (the “Open Price Offering” or “OPO”); and
  • — a global placement (the “Global Placement”) principally intended for institutional investors in France and other countries consisting of: 
    - a private placement in France and in Switzerland;
    - an international private placement in various countries including the United States and Canada; and
    - a private placement in the United States to accredited investors as defined in Regulation D under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) that are also qualified institutional buyers as defined in Rule 144A under the U.S. Securities Act.

Should demand received in connection with the OPO permit, the number of shares allotted to meet orders placed via the OPO will be at least equal to 10% of the total number of shares offered for sale in the Offering prior to any exercise of the Overallotment Option. The transaction could be cancelled if the subscriptions received do not reach EUR 40 million.

(SK)

Please login or
register to comment

Please login or sign up to comment. Commenting guidelines

Principal

Partners

Contributors

By continuing to use this website you agree with our TERMS AND CONDITIONS

In order to provide the best quality for you, our system uses "cookies", which are stored on your device. Cookies are necessary to identify what information (job advertisement, questionnaire, etc) you have already seen. IP address is used for the same purposes as described above.

When creating a profile, applying to the newsletter, job subscriptions and etc, you agree that the data, which you have entered, will be stored and processed in the system in order to provide services, which you have applied for.

We do NOT sell your personal data to any 3rd party services.

You must be 18 or older years old to use our services. If you are underage, you must have a permission to use our services from your parent or guardian. It is necessary in order to store and process your data.

By continuing to use our services, you agree with the these terms. You can withdraw your agreement at any time, by deleting cookies from your device and by sending request for deleting your data to the administrator.