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Belgian Heart Drug Firm Cardio3 BioSciences Plans to IPO in Paris, Brussels



6/5/2013 7:14:30 AM

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Belgian heart drug specialist Cardio3 BioSciences is planning a stock market flotation in Brussels and Paris, it said on Tuesday, without giving details on the timing or size of the issue. The company, a specialist in stem cell treatments for heart problems, has appointed investment bank Kempen & Co as sole global coordinator for the issue. Joint bookrunners are Kempen & Co and Invest Securities. Cardio3 tried unsuccessfully to float in 2011. "The financial markets were particularly difficult during that period, demonstrated by the lack of IPOs (initial public offerings) on the Brussels stock exchange after that date," a company spokesman said. The company had been valued at between 90 million euros ($117.6 million) and 140 million in that flotation attempt, Cardio3 Chief Executive Christian Homsy said.

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