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Given Imaging has decided to slightly delay its planned IPO on Wall Street because of the unwelcoming market conditions, TheMarker has learned.

The company, based in Yokneam, intended to finish its road show on September 24. The pricing stage for its offering had been set for September 25. Under the newly adverse circumstances, however, the medical technology firm prefers to end the road show a few days later than planned.

Given Imaging commented that the offering process is continuing as planned, and that the IPO will take place almost as scheduled. IDB Holding Corporation, which holds the biggest equity stake in Given Imaging through subsidiaries Discount Investments and Elron Electronic Industries (Nasdaq:ELRNF), refused to name the date.

The company, which hopes to trade on Nasdaq under the symbol GIVN, intends to raise $65 million at a company value of $260 million.

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Given Imaging means to sell 5 million shares at a range of $12 to $14. As of the end of the second quarter of 2001, the company had no income to report, only an operating loss of $7.7 million for the first half.

The company has developed a diagnostic technology based on its M2A ingestible mini-video-camera. The camera, swallowed in a capsule, records color images of the digestive tract, which it transmits to a recorder the patient wears externally, on a belt. It passes through the system and is excreted naturally.

The company underwriters will apparently be Lehman Brothers and Credit Suisse First Boston, subbed by Robertson Stephens and Fidelity.