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Inion Shares Begin Trading on London's Main Market
Tampere, Finland and London (ots/PRNewswire) - Inion, a rapidly growing company focused on the development of novel biodegradable medical implants, is very pleased to announce that its ordinary shares have been admitted to the Official List of the UK Listing Authority and will begin unconditional trading today on London's Main Market under the symbol IIN.L.
The Company's listing in London takes place in connection with its successful initial public offering, which raised net proceeds of approximately GBP30 million for Inion and was more than six times oversubscribed at the offer price of 130 pence, valuing the company at GBP90 million post-IPO.
Auvo Kaikkonen, CEO of Inion, commented, "We are delighted that our IPO has been such a success and very proud to be the first Finnish company to IPO on London's main market. The interest the Company has had from investors during the IPO marketing process has greatly encouraged us as we begin life as a UK-listed company. We have grown rapidly since our incorporation in 2000 and believe that our biodegradable implants and technology, both existing and in development, offer clear benefits to patients and surgeons over existing metal products in many surgical areas."
Nomura International acted as bookrunning lead manager and sponsor for the placing and the listing. Williams de Broë Plc acted as co-lead manager.
Inion Ltd. is a Finnish company specialising in the development of biodegradable medical implants. Inion's core expertise and technology lies in the design and manufacture of innovative biodegradable polymer devices, such as plates, screws, pins and membranes. These implants are used to enhance the healing of skeletal injuries (bone and soft tissue), such as those caused by trauma or by reconstructive surgery. Inion uses expertise in polymer chemistry and surgical techniques to develop systems with strength and degradation profiles tailored for each surgical application.
Inion was incorporated in early 2000 by an international team of experts in biodegradable materials and their clinical applications. The Company has production and R&D facilities at the corporate headquarters in Tampere, Finland, and a US office in Oklahoma City, OK. Inion has developed and launched products in four strategic business areas - craniomaxillofacial surgery, orthopaedic trauma, sports medicine and dental surgery - in more than 35 countries worldwide, and has a number of international distribution agreements in place, including Stryker Corporation and Citagenix Inc in North America and Aesculap, part of B.Braun, in Central Europe.
These written materials are not for distribution in the United States, Canada, Japan or Australia. The information contained herein does not constitute an offer of securities for sale in the United States, Canada, Japan or Australia. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. Inion has not and does not intend to register any of its securities under US securities law. Accordingly, the securities may not be offered or sold in the United States unless they are registered or exempt from registration under applicable law or in transactions that are exempt from registration. The securities will not be offered or sold to the public in the United States.
This announcement has been issued by Inion and is the sole responsibility of Inion and has been approved solely for the purposes of Section 21 of the Financial Services and Markets Act 2000 by Nomura International plc of 1 St Martin's-le-Grand, London EC1A 4NP. Nomura International plc, which is regulated in the United Kingdom by the Financial Services Authority, is acting for Inion and no-one else in connection with this matter and will not be responsible to any other person for providing the protections afforded to clients of Nomura International plc or for providing advice in relation to this matter. Williams de Broë Plc, which is regulated in the United Kingdom by the Financial Services Authority, is acting for Inion and no-one else in connection with this matter and will not be responsible to any other person for providing the protections afforded to clients of Williams de Broë Plc or for providing advice in relation to this matter.
This announcement does not constitute or form part of an offer, or any solicitation of an offer, for securities and any purchase of or application for shares in the placing should only be made on the basis of information contained in the formal listing particulars to be issued in connection with the placing and the listing. The price and value of, and income from, shares may go down as well as up. Persons needing advice in relation to any of the matters referred to herein should consult a professional adviser.
ots Originaltext: Inion Ltd
Im Internet recherchierbar: http://www.newsaktuell.ch
Inion Oy, tel +358-3-230-6616, Dr Auvo Kaikkonen, Chief Executive
Officer, Jari Kortesluoma, Chief Financial Officer, Website:
www.inion.com or Citigate Dewe Rogerson, tel +44-(0)20-7638-9571 or
David Dible, Mark Swallow