ZURICH, April 28 (Reuters) - The final price guidance for the flotation of PolyPeptide has been set at 64 Swiss francs ($69.85) per share, a bookrunner said on Wednesday, giving the Swiss contract drugmaker a market capitalisation of 2 billion Swiss francs.
The company, which is due to begin trading on the SIX Swiss Exchange on Thursday, will raise up to 896 million francs by selling up to 13.4 million shares. After the listing, PolyPeptide will have a free float of 40% if the over-allotment allocation is exercised.
The books close on the offers at 1300 GMT on Wednesday. The company, controlled by a foundation of Swedish billionaire adventurer Frederik Paulsen Jr, will use funds raised to finance growth and acquisitions.
$1 = 0.9162 Swiss francs Reporting by John Revill; Editing by Michael Shields