January 26, 2018 / 4:45 PM / 7 months ago

Dermapharm to sell shares worth up to about 400 mln euros in IPO

FRANKFURT, Jan 26 (Reuters) - German drugmaker Dermapharm said it would sell shares worth up to around 400 million euros ($497 million) in an initial public offering and list on the Frankfurt stock exchange on Feb. 9.

It set the price range for the IPO at 26 to 30 euros per share, resulting in a total offering of between 350 million and 404 million euros, it said on Friday.

The company is floating around a 25 percent stake and said on Friday that the offering will comprise a total of 13.46 million shares, of which 3.84 million are new shares from a capital increase and 7.86 million are from the family that controls Dermapharm.

In addition, up to 1.76 million shares from the family have been earmarked for over-allotments. ($1 = 0.8050 euros) (Reporting by Maria Sheahan; Editing by Susan Fenton)

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