Health technology company Nightingale Health’s IPO to individuals has been suspended due to oversubscription, the company says in a press release. The public offering was scheduled to end on Wednesday.
The institutional offering will continue in accordance with the terms of the issue. Nightingale said on Monday it had received preliminary subscription offers of EUR 110 million from institutional investors. The subscription period for the institutional issue is scheduled to continue until Thursday.
Read more: Listed on the stock exchange, Nightingale is a leap into the unknown for the investor
Nightingale intends to list on the First North marketplace of the Helsinki Stock Exchange. The company’s goal is to raise approximately EUR 110 million in the issue, which would result in a market value of approximately EUR 450 million.
Nightingale’s IPO began last week on Monday. The company estimates that trading in its share could begin on Friday.
Nightingale’s business was launched in 2013. The company is developing blood analysis technology that identifies disease risks.
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