Pharming to float on Easdaq
DUTCH biotechnology company Pharming is to raise Nfl100-120 million ($50m-$60m) through a share flotation on the Brussels-based Easdaq electronic exchange.
The company, known for cloning animals and equipping them with human genes, expects to list on the Amsterdam stock exchange, where rules have not yet been relaxed to allow a main board quotation for groups lacking a profit record.
Pharming incurred a net loss of Nfl6.2m last year on revenues of Nfl5.8m. It plans to use the proceeds for the development of its pharmaceutical products as well as building production facilities. Trading is due to begin on 2 July.
- Financial Times 19/06/98 page 24