Pharmaceutical company Kamada Ltd. (TASE: KMDA) plans to raise up to $69 million on Nasdaq next week, following the IPO by Alcobra Pharmaceuticals Ltd. on Tuesday. The capital that Kamada plans to raise will be at a company value roughly equal to its current market cap of $331 million on the Tel Aviv Stock Exchange (TASE).
The underwriters, Morgan Stanley (NYSE: MS) and Jeffries & Co. have an over-allotment offer to buy up to an additional 837,395 shares, which if exercised, will boost Kamada's offering by up to $9 million. The company will be listed under the ticker "KMDA".
Kamada was founded 22 years ago. It has sales in the US of Glassia, its treatment for congenital emphysema, and it has a US distribution partner, Baxter International Inc. (NYSE: BAX). Kamada has shown steady revenue and sales growth in recent years.
Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2013
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