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Alvotech Taps Equity Financing As Venture Bears Fruit In Saudi Arabia

Icelandic Firm Expects To Bring In North Of $135m Via Private Placement

 
• By Dean Rudge

Alvotech has once again raised more than $100m in financing, the second time in a matter of months, via a private placement involving what it expects to be previously issued treasury shares held by one of its subsidiaries.

Financing
Alvotech's shares fetched a little over $11.50 • Source: Shutterstock

Biosimilars player Alvotech has offloaded millions more of its stock, raising approximately $137m at current exchange rates via an overseas private placement directed solely into its native Iceland to professional clients.

Completed on 22 January, the private placement is expected to be closed and settled on 10 February,

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