Global offering
argenx
Lead ManagerKempen is pleased to announce that it acted as Lead Manager to argenx in its USD 484 million global offering
Transaction highlights
- Global Accelerated Bookbuild Offering raising USD 484m by placing 4,000,000 common shares and ADSs at a price of USD 121.00 (€109.18) each with gross proceeds potentially increasing to USD 557 million in case the over-allotment option is exercised in full
- The deal was tightly priced with a discount of only 4.1% to the last closing price
- European investor Baillie Gifford acted as cornerstone investor, having indicated pre-launch interest to invest up to $220 million in the company. Mid 2018, Kempen was the first to bring the argenx investment case on their radar and flew argenx’ CEO and CSO in February 2019 to Edinburgh for the initial conversation
- Kempen has supported argenx throughout its public life via roadshows, its annual Life Sciences & Healthcare conferences and other stages. In spite of the orderbook only being open late evening hours European time, Kempen was able to secure demand from high quality European and US investors
- Kempen acted as Joint Global Coordinator and Joint Bookrunner in argenx’ IPO on Euronext in 2014, advised the company on its Nasdaq IPO in May 2017 and subsequent US public offering in December 2017 and stepped into a Co-Manager role in argenx’ next US public offering in September 2018. Furthermore, Kempen has been the number one broker in the stock ever since argenx’ 2014 IPO, trading over €1.8bn of its stock to date
- This marks the 7th US Life Sciences & Healthcare ECM transaction in 2019 in which Kempen acted as an underwriter, the second just this week and the very first in which it acted as Lead Manager
Company description
Background Kempen Life Sciences & Healthcare
Contact
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Public offer by German ADLER Real Estate
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Sale of 3 German residential portfolios by
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Secondary offering
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Acquisition by
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Secondary placement of 9.4% stake in
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Acquisition of the North American rights to RUCONEST by
from
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of
from
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Rights issue
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Sale of
to
Residential portfolio sale by Dekor
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Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
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Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
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Refinancing
Initial Public Offering
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Rights issue
On behalf of
Acquisition of
Rights issue
Acquisition of French shopping centre portfolio by Wereldhave
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Acquisition of
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Secondary listing on Euronext Paris
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Convertible bond issue
Fairness opinion in the public offer by
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Convertible bond issue
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Sale of Dutch supply assets to
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from
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Private placement by acquisition vehicle for French Carrefour
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Combined offering of primary and secondary shares
Public offer for German listed GSW
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Equity issue
Refinancing
Sale of majority of shares to
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for
Private placement
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for
Rights issue