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EndoChoice raises $96 million in NYSE IPO

The main beneficiary of the medical device company’s IPO was Mori Arkin and Uri Geiger’s Accelmed with a 9% stake.

Mori Arkin

US-Israeli medical equipment company EndoChoice Holdings Inc.(NYSE:GI) last Friday raised $96 million on the New York Stock Exchange at a company value of $366 million, after money. The offering was priced at the lower limit of the range mentioned by the company – $15 a shEndoChoice Holdings Inc.(NYSE:GI) are. On the first trading day, however, the share price already rose to $17, giving the company a $415 million market cap.

An immediate rise in the share following pricing usually indicates pressure from the underwriters to lower the price, and that the company made a concession on its price in order to bring strong parties into the offering, even though demand outstripped supply. In this case, the demand for the flotation totaled $500 million-$1 billion…Read More

Published by Globes [online], Israel business news – www.globes-online.com

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