BG Medicine plans to list 4.75 million shares for $7 each at its initial public offering (IPO), although investment bank Lazard can sell a further 712,500 shares if demand is strong enough. The previous price range was $13 to $15 per share.

BG Medicine, a US-based healthcare company, has cut its planned Nasdaq flotation price to $7 per share to raise $33.25m, according to its regulatory filing.

The company plans to list 4.75 million shares at its initial public offering (IPO), although investment bank Lazard can sell a further 712,500 shares if demand is strong enough. The previous price range was $13 to $15 per share. BG had raised more than $37m since 2000, according to news provider Fortune.

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