Today, PolyPeptide Group AG (Ticker "PPGN"), a global leader in peptide development and manufacturing, listed its shares on the Swiss Stock Exchange. The opening price was CHF 72.50 per share, resulting in a market capitalization of CHF 2.4 billion.
The issued share capital of PolyPeptide comprises of 33,125,001 registered shares, whereas, 3,125,000 newly issued registered shares together with existing 8,396,740 registered shares were offered in the IPO. At an issue price of CHF 64.00 per registered share, the placement volume was CHF 737 million (excluding over-allotment option). In addition, the selling shareholder has granted an overallotment option of up to 1,728,261 existing shares.
Peter Wilden, Chairman PolyPeptide, says: “With its focused strategy since its beginnings in 1952, PolyPeptide has become a leader in its field and today manufactures around one-half of all currently approved peptide drug substances. While today’s listing at SIX marks an important milestone in the history of our company, it should also be seen as a strong expression of our ambition to drive innovation for the benefit of patients around the world. My thanks go to the PolyPeptide team and everyone who helped make this possible.”
Jos Dijsselhof, CEO SIX, says: “I am delighted to welcome PolyPeptide, an international company with Swedish roots and a long lasting history, on our exchange. PolyPeptide’s IPO confirms that SIX has been and continues to be highly attractive for international companies and that the appeal of its life sciences sector and ecosystem extends far beyond the borders of Switzerland.”
PolyPeptide Group is a Contract Development & Manufacturing Organization (CDMO) focusing on proprietary and generic GMP-grade peptides used in approved pharmaceutical products, drugs in clinical development as well as in generic products. Dating back to 1952, PolyPeptide today manufactures around one-half of all currently approved peptide drug substances with a global footprint of six GMP-certified facilities in Europe, the U.S. and India. As a multinational company it combines comprehensive experience and technical capabilities. PolyPeptide has grown organically and by selective acquisition of existing expertise, culminating in its position today as a leader in outsourced peptide manufacturing.