German Pharmaceutical Firm Appoints Citi as Depositary for IPO

Innocoll, a German collagen-based pharmaceutical company, has appointed Citi as depositary bank for its Level III DR offering.

Citi will act as the depositary bank, transfer agent and registrar, and its German branch Citigroup Global Markets Deutschland, will serve as the custodian.

The IPO will be for 6.5 million shares priced at $9 each, which would raise $58.5 million. Each share represents 1/13.25 of an ordinary share with a notional value of €1.00 per share. ADR shares will be listed on Nasdaq, under the symbol “INNL.”

Under the Jumpstart Our Business Startups (JOBS) Act of 2012, Innocoll is classified as an emerging growth company and thus has reduced public company reporting requirements.