Ablynx cuts conversion price on €100 million of 3.25% convertibles

By Susanna Moon

Chicago, Oct. 25 – Ablynx NV said it lowered the conversion price of its €100 million 3.25% convertible bonds due May 27, 2020.

The conversion price was reduced to €12.6631 per common share from €12.93, effective Friday.

The adjustment was due to the company pricing its $200 million initial public offering of 11.43 million common shares in the form of American Depositary Shares at a price of $17.50 per ADS with a 30-day greenshoe for another 1,714,500 shares, according to a company announcement.

Ablynx is a Ghent, Belgium-based biopharmaceutical company.

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