By Stephen Nakrosis
Biolingus (Cayman) on Thursday said it had downsized its planned initial public offering to 360,000 shares and boosted its expected share price to $20 each.
The company previously said it planned to offer 3 million shares at a price of $15 to $16 each.
Biolingus said it is a holding company holding whose main business operations are conducted through subsidiaries, mostly in Switzerland. The company is developing the oral, and specifically sublingual, delivery of peptides and proteins.
BioLingus said it intends to apply to list on the Nasdaq Capital Market under the symbol SUBL.
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