Seventure's AAA plans flotation

The company is selling around 5.36 million American Depositary Shares (ADS) – each of which represents two ordinary shares – for $13-15 each. This means the company could raise up to $80m at the top end of the price range.

Existing backer HBM Healthcare Investments, which led the company's €41m funding round in February 2014, has agreed to purchase up to $10m of ADSs in the offering.

Citigroup Global Markets, Jefferies, Canaccord Genuity and JMP Securities have been appointed as underwriters for the flotation.

In May 2013, AAA raised €4.8m from several investors, including new backer Seventure. This was followed by a €41m funding round in February last year led by HBM.

The company has a total of 185 private and institutional investors. Its management and employees own a 19.5% stake in the business.

Founded in 2002 and headquartered in Saint-Genis-Pouilly, AAA is a molecular nuclear medicine (MNM) specialist with a focus on molecular imaging and personalised medicine (therapy for personalised treatment of serious diseases).

AAA generated revenues of €53.8m ($67.9m) in 2013, as well as an adjusted EBITDA of €7.7m ($9.7m).

The company employs 324 staff.

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