Hikma underwriters exercise greenshoe for 260,456 shares, raising sale to £149.56 million

By Angela McDaniels

Seattle, Nov. 30 - Hikma Pharmaceuticals plc said that the underwriter of its initial public offering of common shares has exercised 260,456 shares out of the over-allotment option, raising the deal size to £149.56 million.

Upon closing of the over-allotment shares, of total of 51.57 million shares of common stock have been sold.

The company will receive gross proceeds of £755,322 from the greenshoe.

The option was for up to 2.6 million additional shares.

Hikma originally priced £148.8 million of the common shares at 290p per share on Oct. 31. The company issued £70.0 million or 24.1 million of the shares, and shareholders issued the remainder.

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.

Hikma is an Amman, Jordan-based pharmaceutical company that produces branded and non-branded generic and in-licensed products.

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