Private Banking|Professional Solutions|Investment Management|Investment Banking|About us
  • Solutions
  • Sectors
  • Careers
Oct 2022
Co-Lead Manager
DKK 786 million
Accelerated Bookbuild Offering

Zealand Pharma

Co-Lead Manager

Kempen & Co acted as Co-Lead Manager in Zealand Pharma’s DKK 786m Capital Increase

Transaction highlights

  • Directed issue and private placement of 4,975,000 new ordinary shares at a price of DKK 158 per new ordinary share, raising gross proceeds of approx. DKK 786 million 
  • Zealand Pharma’s capital increase was upsized during bookbuilding to 4,975,000 new ordinary shares from approx. 4,500,000 new ordinary shares at launch, representing a total increase of the company’s share capital by 10.7%
  • Shares were offered at a price of DKK 158 per new ordinary share, representing a discount of 5.4% vis-à-vis the closing price prior to the transaction announcement on 4 October 2022
  • The transaction was executed on the back of positive topline results from the EASE 1 Phase III clinical trial of its candidate glepaglutide, which is a long-acting GLP-2 analog in development for the treatment of Short Bowel Syndrome
  • Net proceeds are intended to be primarily used to help fund the continued development of Zealand Pharma's proprietary pipeline of investigational peptide-based therapeutics, to support pre-commercial activities and are expected to provide a cash runway until Q2 2024
  • This transaction marks Kempen & Co’s fourth equity capital markets transaction for a Nordic company in the last six months, underpinning the ability of Kempen & Co to continue supporting companies in the Nordics in challenging markets

Company description

Zealand Pharma (Nasdaq: ZEAL) is a biotechnology company focused on discovering, developing, and commercialising peptide-based medicines. More than ten drug candidates invented by Zealand Pharma have advanced into clinical development, of which two have reached the market, and three candidates are in late-stage development.

In March 2022, Zealand Pharma announced a new strategy to pursue strategic partners for the commercialisation and co-development of late-stage clinical assets and prioritize resources on R&D. 

The company has development partnerships with a number of blue-chip pharma companies as well as commercial partnerships for its marketed products.
Founded in 1998 and headquartered in Copenhagen, Denmark, Zealand Pharma has a team in the U.S.

Background Kempen & Co Life Sciences & Healthcare

In the last twelve months, Kempen & Co has successfully completed a large number of equity capital markets transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

  • Joint Global Coordinator in SEK 299m directed share issue by BioInvent
  • Sole Global Coordinator in the SEK 200m financing consisting of a SEK 150m PIPE and a SEK 50m Fully Guaranteed Rights Issue by Abliva
  • Joint Global Coordinator & Joint Bookrunner in the SEK 150 million Fully Guaranteed Rights Issue by SynAct Pharma
  • Co-Manager in the USD 700 million Capital Increase by argenx
  • Sole Block Placing Agent in the placement of 1.4m Molecular Partners shares
  • Joint Bookrunner in the USD 127 million Nasdaq IPO of Forbion European Acquisition Corp
  • Co-Lead Manager in the USD 115 million Nasdaq Initial Public Offering by IO Biotech
  • Lead manager in the USD 127 million Global Offering of Merus
  • Joint Global Coordinator and Joint Bookrunner in the €31.5 million Euronext IPO by MaaT Pharma

Fully focused on your future

Private Banking
  • Offices
  • Entrepreneurs
  • Healthcare
  • Executives
  • Business professionals
  • Wealth management
  • Conditions
  • Private Banking - Belgium
  • Private Banking - Switzerland

Professional Solutions
Investment Management
Investment Banking

© Van Lanschot Kempen NV 2024About usSecurity and fraud awarenessPrivacy & cookiesDisclaimer