Global Accelerated Bookbuild Offering
argenx
Co-ManagerKempen & Co is pleased to announce that it acted as Co-Manager to argenx in its USD 700 million Global Offering
Transaction highlights
- Global Accelerated Bookbuild Offering raising USD 700 million by placing a total of 2,333,334 ADSs and ordinary shares at a price of $300.00 per ADS and €273.10 per ordinary share, with gross proceeds potentially increasing to USD 805 million in case the over-allotment option is fully exercised
- The transaction was upsized from originally USD 500 million due to strong demand and was tightly priced with a discount of 3.6% to the last ordinary share closing price and a discount of 4.2% to the last ADS closing price prior to deal announcement
- The transaction was executed on the back of argenx’s efgartigimod meeting the primary endpoint in the Phase III ADAPT-SC study in generalized myasthenia gravis and was anchored by leading investment management firm Baillie Gifford who indicated interest to purchase up to USD 170 million before launch
- argenx’s capital increase marks the first major transaction for a European life sciences company in 2022
- The transaction builds on the long-standing relationship between argenx and Kempen & Co which started with the €42m Euronext IPO in 2014 and was followed by the USD 115 million Nasdaq IPO in 2017 and subsequent global offerings of USD 266 million in 2017, USD 301 million in 2018, USD 557 million in 2019 and USD 862 million in 2020
Company description
argenx is a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases. Partnering with leading academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines. argenx developed and is commercializing the first-and-only approved neonatal Fc receptor (FcRn) blocker in the U.S. and Japan. The Company is evaluating efgartigimod in multiple serious autoimmune diseases and advancing several earlier stage experimental medicines within its therapeutic franchises.
Background Kempen & Co Life Sciences & Healthcare
In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
- Sole Block Placing Agent in the placement of 1.4m Molecular Partners shares
- Joint Bookrunner in the USD 127 million Nasdaq IPO of Forbion European Acquisition Corp
- Co-Lead Manager in the USD 115 million Nasdaq Initial Public Offering by IO Biotech
- Lead manager in the USD 127 million Global Offering of Merus
- Joint Global Coordinator and Joint Bookrunner in the €31.5 million Euronext IPO by MaaT Pharma
- Co-Manager in the USD 460 million Capital Increase by Ascendis Pharma
- Joint Bookrunner in the SEK 324 million Capital Increase by Calliditas Therapeutics
- Joint Global Coordinator & Joint Bookrunner in the SEK 380 million Capital Increase by Xbrane Biopharma
- Joint Global Coordinator in the €34.1m Capital Increase by Transgene
- Joint Global Coordinator & Joint Bookrunner in the SEK 141 million Capital Increase by Immunicum
- Lead Manager in the USD 63.8 million Nasdaq Initial Public Offering by Molecular Partners
- Joint Bookrunner in the SEK 301 million Capital Increase by Q-linea
- Co-Manager in the USD 176 million Nasdaq Initial Public Offering by Achilles Therapeutics
- Joint Bookrunner in the €30.0 million Capital Increase by GenSight Biologics
- Lead Manager in the USD 101 million Nasdaq Initial Public Offering by LAVA Therapeutics
Contact
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Transactions
No transactions found
Public offer for
Extension of Credit Facilities
Sale of existing shares via club deal
Development Financing for The Ensemble
Sale of
To
Convertible Bonds & Shareholder commitment
Sustainability Linked Unsecured Revolving Credit Facility
Directed share issue via club deal
Acquisition of Almere Centrum
Accelerated Bookbuild Offering
PIPE & Rights Issue
Rights Issue
Directed Share Issue to
Capital Increase & Spin-out
Global Accelerated Bookbuild Offering
to
Selling shareholder
Public takeover of
Non-listed equity capital raise of the Aquila Capital Southern European Logistics Fund
Sale of
Block Trade in Molecular Partners Shares
Real Estate Acquisition Financing
Undisclosed
by
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Initial Public Offering
US Public Offering
Placing
Capital Increase
US Public Offering
Sale to
Portfolio company of
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Mandatory Convertible Bond Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Capital increase
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
on Nasdaq
Initial Public Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Capital increase
Private Placement
US Public Offering
Initial Public Offering
US Public Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
Debt financing
US Public Offering
US Public Offering
Green Revolving Credit Facility
Sale to
Combination with
Accelerated Bookbuild Offering
Sale to
Accelerated Bookbuild Offering
Non-listed equity capital raising
Sale of majority stake to
Secondary Sell-Down in Calliditas Therapeutics
Capital increase
Initial Public Offering
Capital Increase
European FinTech
IPO
Accelerated Bookbuild Offering
Private Placement of shares in
Bridge financing
Undisclosed
Initial Public Offering
Rights issue
Accelerated Bookbuild Offering
US Public Offering
Accelerated Bookbuild Offering
Public Offering
Merger with Arya Sciences Acquisition Corp. and subsequent Nasdaq listing
acquisition of
Initial Public Offering
Private Placement
Private Placement
Accelerated Bookbuild Offering
Global Accelerated Bookbuild Offering
Accelerated bookbuild offering
Sale of 456 unit landmark residential project in prime location The Hague
acquired by
public offer for
Sale and capital increase
and
Sale of Dutch residential development to
Global Offering
Accelerated Bookbuild Offering
Public takeover of
Sale of
to
Accelerated Bookbuild Offering
Capital increase
Global offering
US public offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
Rights issue
a subsidiary of
Sale of German DIY portfolio to REDOS acting on behalf of Union Investment
Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
Three-day bookbuild offering
Rights issue
Acquisition of
Initial Public Offering
Accelerated Bookbuild Offering
Block trade in argenx shares
a subsidiary of
Sale of German retail portfolio to a real estate private equity firm
Sale of Dutch residential portfolio managed by
on behalf of investors to
Sale of
to
Bencis Capital Partners
Increase of stake in
Initial Public Offering
Acquisition of
Acquisition of
Acquisition of
Capital increase
Block trade in ERYTECH shares
Initial public offering
Accelerated bookbuild offering
Initial public offering
Acquisition of
Block trade in Boskalis shares
US public offering
US public offering
Sale to
US public offering
Sale of Rabo Bouwfonds CIF datacenter portfolio to
Initial public offering
Acquisition of former Delta Lloyd portfolio from
Rights issue
Public offer for
Fundraise
Accelerated bookbuild offering
Rights issue Public offer by German listed ADLER Real Estate
for Israeli listed
Public offer by German Vonovia
Accelerated bookbuild offering
Sale of Dynamic Portfolios
Public offer by Spanish Colonial
for Spanish Axiare Real Estate
Accelerated bookbuild offering
Sale of 3 German residential portfolios by
to consortium of buyers
US public offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Acquisition by
of
Acquisition of
by
Private placement
Acquisition by
of
Dutch wealth management activities
Acquisition by
of
from
Accelerated bookbuild offering
Initial public offering on NASDAQ
Share buy-back program
Acquisition by
of
Accelerated bookbuild offering
Public offer by
for
Public takeover by German Vonovia
For Austrian Conwert
Accelerated bookbuild offering
Rights issue
Sale of 19% stake in
Accelerated bookbuild offering
Acquisition of the North American rights to RUCONEST by
from
Acquisition by
of
from
Strategic study
Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
Strategic study
Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Management participation advisory in dual-track sale process
Refinancing
Initial Public Offering
Initial public offering
Rights issue
On behalf of
Acquisition of
Rights issue
Acquisition of French shopping centre portfolio by Wereldhave
From French-Dutch Unibail-Rodamco
Refinancing
Acquisition of the cancer immunotherapy program by
from
Initial public offering
Initial public offering
Public offer by French Groupe SMABTP
For French Société de la Tour Eiffel
Acquisition of
by
Secondary listing on Euronext Paris
Initial public offering
Acquisition by
of
Accelerated bookbuild offering
Convertible bond issue
Fairness opinion in the public offer by
Sale of Hercules business to ZEG
Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
undisclosed PE firm
from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
Equity issue
Refinancing
Sale of majority of shares to
Accelerated bookbuild offering
Initial public offering
Secondary offering
Accelerated bookbuild offering
Public offer by
for
Private placement
Public offer by
for
Accelerated bookbuild and private placement
Rights issue