New York, Nov. 1 - Hikma Pharmaceuticals plc priced its £148.8 million initial public offering of ordinary shares at 290p per share.
The deal priced within guidance that put the price at 265p to 330p per share.
In the offering, the company sold 51.3 million shares, of which 24.1 million were issued by the company and 27.2 million by selling shareholders. Of the total proceeds, the company's share is £70.0 million.
There is an over-allotment option for a further 2.6 million shares, all to be sold by Hikma.
Merrill Lynch International was global coordinator, bookrunner and lead manager for the sale. Citigroup was joint lead manager and Export & Finance Bank was co-lead manager.
"We are delighted with the strong levels of interest and participation in the global offer from a broad range of investors in the United Kingdom, Europe, the United States and the Middle East," said Samih Darwazah, Hikma's chairman and chief executive officer, in a news release.
Hikma is an Amman, Jordan-based pharmaceutical company that produces branded and non-branded generic and in-licensed products.
| Issuer: | Hikma Pharmaceuticals plc
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| Issue: | Initial public offering of common shares
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| Amount: | £148.8 million (£70.0 million by company)
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| Shares: | 51.3 million (24.1 million by company)
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| Greenshoe: | 2.6 million shares (all by company)
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| Price: | 290p
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| Pricing date: | Oct. 31
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| Bookrunner: | Merrill Lynch International
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| Ticker: | "HIK" on London Stock Exchange
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