BRIEF—argenx to raise $1.1 billion in global offering

Shares of Belgo-Dutch autoimmune diseases specialist argenx jumped 8.6% to 475.30 euros, argenx, after it , announced today the pricing of a global offering of ordinary shares, which may be represented by American Depository Shares (ADSs).

The global offering is comprised of an offering of ordinary shares represented by ADSs in the USA and certain other countries outside of the European Economic Area and a simultaneous private placement of ordinary shares in the European Economic Area and the UK.

Argenx anticipates total gross proceeds of around $1.1 billion (~979.6 million euros) from the sale of 1,580,981 ADSs at a price of $490.00 per ADS and the sale of 663,918 ordinary shares at a price of 436.37 euros per ordinary share.

Each of the ADSs represents the right to receive one ordinary share, nominal value of 0.10 eurosper share.

The US offering and the European private placement are currently expected to close simultaneously on July 24, 2023, subject to customary closing conditions.