Molecular Partners Postpones IPO Amid Volatile Markets
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Molecular Partners AG, a Swiss biotechnology company, postponed its planned 151 million-franc ($159 million) initial public offering in Zurich, blaming “adverse market conditions.”
The deal has been put on hold until further notice, the Schlieren, Switzerland-based company said in a statement late yesterday. Bookbuilding for the IPO was due to end yesterday and the shares were scheduled to start trading today.