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
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:
or Citigate Dewe Rogerson, tel +44-(0)20-7638-9571 or
David Dible, Mark Swallow