Idorsia shares steadily advancing as trading started today

16 June 2017

Idorsia (SIX: IDIA), the research-based spin-out from Actelion following the latter’s $30 billion acquisition by Johnson & Johnson (NYSE: JNJ) which has now completed, started trading on the SIX Swiss stock exchange this morning at 10 Swiss francs, and soon moved up to 11.55 francs. By mid-day Swiss time, the shares were trading at 13.05 francs, and by close on Friday they were 13.65 francs.

The former shareholders of Actelion received one Idorsia share for each Actelion share held on June 13. On June 16, 2017, 107,330,210 Idorsia shares are being listed on SIX.

One trader, quoted by Reuters, said the stock had been trading over the counter this week at around 8 francs, the theoretical price given the difference between Actelion's share price in Swiss francs and the $280 cash price J&J is paying for Actelion.

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