Karo Bio: New Share Issue of 600.000 Shares Completed.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--May 18, 2000 Karo KARO Kane Amateur Radio Operators (Kane, PA) Bio AB (publ) has completed a new share issue of 600.000 shares that have been allocated to Swedish and international investors. The share price was set at 336 SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. per share providing the Company with 200 MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner . "The new share issue is aimed at a broadening of the institutional owner base and secures Karo Bio's strategy to negotiate new strategic partnerships, to acquire new technologies and to start new projects from a strong financial position," says Torben Jorgensen, President of Karo Bio. D. Carnegie AB has acted as financial advisor for Karo Bio. Questions concerning this press release shall be directed to: Torben Jorgensen, President, Karo Bio AB, Telephone: +46-8-608 6020 Background Karo Bio is a research-based pharmaceutical company developing pharmaceuticals for the treatment of common diseases such as osteoporosis, cancer, diabetes, and cardiovascular and metabolic diseases. The technology platform includes both nuclear receptors, where Karo Bio has a leading position in the world, and, after the acquisition of Novalon, knowledge of genomics. Development takes place in collaboration with international pharmaceutical companies. Karo Bio has collaborative agreements with such leading international life science companies as Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. , Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were , Merck & Co. Inc., Bayer AG, Ares-Serono, Millennium Pharmaceuticals Inc. and Novartis Research Foundation. Karo Bio will now have over 110 employees and operations in Stockholm, San Francisco and Durham, North Carolina Durham is a city in the U.S. state of North Carolina. It is the county seat of Durham CountyGR6 and is the fourth-largest city in the state by population. . The company is listed on the "O" List of the OM Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. . Homepage: www.karobio.se --------------- Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/18/20000518BIT00490/bit0001.doc http://www.bit.se/bitonline/2000/05/18/20000518BIT00490/bit0002.pdf |
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