Celon Pharma Gains 19% in First Day of Warsaw Trading
- Biggest IPO in Warsaw this year raised $62.3 million
- Buyers seek diversification from pharma sales outside Poland
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Celon Pharma SA shares jumped 19 percent in the first day of trading on the Warsaw Stock Exchange after the Polish drug maker completed its initial public offering.
The Warsaw-based company was trading at 19.59 zloty at 10:19 a.m. local time, valuing Celon at $224 million. The company last month raised $62.3 million, the biggest IPO in central and eastern Europe this year after Moneta Money Bank AS’s offering in the Czech Republic.