Date of Avantium IPO announced

Biotech firm Avantium will float on the Amsterdam bourse on or around November 16 with the aim of raising between €20m and €30m, the company said on Monday.

Shares will be priced at between €12.50 and €16. Avantium, which was hived off by Shell in 2000, will use the proceeds of its IPO to develop new bio-fuels.

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