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Biotech / Medical : Oxford GlycoSciences Plc
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To: Jongmans who started this subject11/13/2000 3:30:12 AM
From: nigel bates  Read Replies (1) of 469
 
About time too-
LONDON, Nov 13 (Reuters) - UK biotechnology company Oxford Glycosciences (LSE: OGS.L - news) Plc said on Monday it was raising around 150 million pounds ($215 million) to fund its drug-discovery and development programmes.
The group, which said it was applying for a listing on the Nasdaq, was raising the cash via an open offer and international offer of new shares.
The offer price -- which will be the same for each offer -- would be set at the end of a book-building process on or around December 7.
OGS said the offer price must be set at a level not less than 90 percent of its closing share price on the day before the offer price is announced.
OGS's shares had closed at 2,325 pence on Friday.
Shareholders qualifying for the open offer can apply on a pro rata basis for shares, while the international offer may be increased by the issue of up to 1.7 million shares....
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