MARTINSRIED (dpa-AFX) - MorphoSys AG (MPSYY.PK)'said that it has commenced an initial public offering in the United States of up to 8.30 million American Depositary Shares or 'ADSs'. Application has been made to list the ADSs on the Nasdaq Global Market in the United States under the ticker symbol 'MOR'.
In addition, MorphoSys expects to grant the underwriters a 30-day option to purchase additional ADSs of up to 15% of the total number of ADSs placed in the offering, i.e. up to 1.245 million additional ADSs. Each ADS will represent 1/4 of a MorphoSys ordinary share.
The new ordinary shares underlying the ADSs will be issued from MorphoSys's authorized capital 2017-II, excluding pre-emptive rights of existing shareholders and representing up to 8.1% , including the underwriters' option to purchase additional ADSs, of the registered share capital of MorphoSys prior to the consummation of the offering.
The final price of the offered ADSs will be determined largely on the basis of the XETRA closing price of MorphoSys's shares on the Frankfurt Stock Exchange on the pricing date (expected for the week of April 16, 2018) translated into U.S. dollars at the then prevailing exchange rate and using an ADS to share ratio of four to one.
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