ArQule Completes Initial Public Offering

28 October 1996

- ArQule of the USA has completed its initial public offering of 2.5 million shares at $12 per share. The offering was increased by 500,000 shares in response to demand, while a further 375,000 shares are available for any over-allotments. The proceeds from the offering will be used for R&D and other general purposes.

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