Basilea Pharmaceutica, a Swiss biopharmaceutical company, is planning to launch an initial public offering (IPO) this month in further evidence of the IPO market opening up for European companies in the sector.

Credit Suisse First Boston (CSFB) and Morgan Stanley are joint global co-ordinators and bookrunners of the IPO. The two banks have also teamed up, alongside Banco Bilbao Vizcaya Argentaria (BBVA), to lead the flotation of Fadesa Immobiliaria, a Spanish real estate company, which filed for an IPO this week in the first Spanish IPO for two years.