BioNTech11 Feb 2020 08:27
Withdrew its placing last Friday which was a bit strange.... Anyways this is the reason given.... note its a web translation from German:
'Last week, the biotech company BioNTech, based in Mainz, announced that it would like to place a share. The plan was to issue up to 6.9 million American Depositary Shares (ADS), which represent the company's own ordinary shares. However, the surprising cancellation came on Friday. There was direct speculation on the market. Biotech experts Michel Doepke and Marion Schlegel asked the company directly what the reasons were. Here is the answer from BioNTech.
“The order book was fully drawn. As a German company, we are also subject to German securities regulations, which limit the clearing price. While the US regulations do not limit discounts, there is a 5% limit in German law. This also applied to our closing course on February 5, 2020. BioNTech's Management Board and Supervisory Board have therefore decided that it is in the best interest of the company and the existing shareholders not to carry out the transaction.'