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Nazal Spray on the Vienna Stock Exchange met DiePresse.com



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IPOs are very rare in Austria: only five companies have entered the trading base in the last five years. There was some confusion over the last week of the announcement to buy new money in the capital market of the Vienna biotech company, Marinomed. On Friday, the company announced the details: The stock will be traded on the main market of the Vienna Stock Exchange on December 4. The subscription period starts on November 19, and continues until November 29th. 400,000 new shares will be issued at a very high price of 75 to 90 euros each. The IPO will bring at least 30 million euros.
Marinomed develops therapies for the treatment of allergies, respiratory and eye diseases. For some nasal spray, lozenges and colds, a throat spray is already sold.

The main market is currently in Europe, but since this year Marinomed also sells in China and Australia. In addition, the company develops therapies for allergies such as eye diseases (such as conjunctivitis) and common hay fever. Several products are currently being tested in clinical trials. Marinomed, which was established in 2006 the previous year, achieved a turnover of 4.8 million euros with 32 employees and the lowest level of this figure was 2.38 million Euros. The company's CEO, Water & Co-founder Andreas Grassauer, did not want to look at the current financial year's figures at a press conference Friday.

For senior private customers

Virolog Grassauer and immunologist Eva Prieschl-Grassauer founded the biotechnology company in 2006. Each holds 12.89 percent of the shares. The largest shareholder is Saudi investment company Acropora with 33.3%. After the public offering, 43 percent of shares should be free floatta. Target audience, "upmarket retail banking" customers, "Erste Group" Privat Bosphorus, Peter Bosek, looks after the public offering. "This is clearly a story of growth," says Bosek. Although everyone could buy stock, small investors were not handled openly due to high risk. Marinomed does not pay dividends. The high price of the stock is also "not for a mass audience," Grassauer said. In the prospectus, Marinomed points out the risk of m not offering every clinical research project to market approval and therefore for sale İz.
Marinomed has seven billion potential customers, because every adult suffered twice a year on average, says Grassauer, boss of the company. "Our value is intellectual property." What it means: Marinomed improves therapies, but they are usually produced and sold by well-known major pharmaceutical companies. The advantage is that starting at a certain point doesn't create big costs. So even once you can enter a "really thick" money. CFO Pascal Schmidt said the revenue from the IPO will reach the breaking point.

New Stock Act 2019

Over the past two years, there have been three IPOs in Austria, including the 2017 Bawag, the largest in the history of the Vienna Stock Exchange. Experts have been calling for more public offerings for years – this may happen soon: the new Stock Company Act will enter into force in 2019. The law aims to facilitate the capital intake for small and medium-sized enterprises. (Hia)

("Die Presse", print edition, 17.11.2018)

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