Oct 26 (Reuters) - German biotech firm Evotec SE
said on Tuesday it would seek a valuation of about $9.2 billion
in its initial public offering in the United States.
The company has a market capitalization of $8.3 billion on
the Frankfurt Stock Exchange, where its shares are already
listed, according to Refinitiv data.
Founded in 1993, Hamburg-headquartered Evotec offers a suite
of technologies that enable faster and cheaper drug discoveries
by pharmaceutical companies.
The company last year received a grant from the Bill &
Melinda Gates Foundation to help identify and develop potential
monoclonal antibody drugs for the prevention of severe COVID-19.
Evotec said in its filing that it would look to raise up to
$575.5 million in the IPO by offering 22 million American
depositary shares (ADSs) at $26.16 each. Each ADS represents
one-half of an ordinary share.
BofA Securities and Morgan Stanley are the lead underwriters
for the offering.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna
Chandra Eluri and Aditya Soni)