ZURICH, May 15 (Reuters) - Polyphor has priced shares in its initial public offering (IPO) at 38 Swiss francs ($37.95) each, the biotech company said on Tuesday, confirming an earlier report by Reuters.
The price is towards the upper end of the offer price range, meaning the total placement volume will come to 165 million Swiss francs.
The offer price implies a total market capitalisation of 420 million Swiss francs and free float is expected to amount to about 37 per cent, assuming the full exercise of the over-allotment option, the company said.
Polyphor's shares are due to start trading on the SIX Swiss Exchange on Tuesday. The listing will be the fifth new entrant on the Swiss bourse this year. ($1 = 1.0013 Swiss francs) (Reporting by John Revill; Editing by Gopakumar Warrier)