Actelion, the Swiss biopharmaceuticals company, gave the new issue market a welcome shot in the arm today with its successful Sfr410m (€272m) secondary sale, which was increased on the back of strong demand and priced at a very tight discount.

In the sale led by Credit Suisse First Boston, Actelion increased the number of shares on offer by 15% from 435,000 to 500,000 on the back of strong demand, with an addition 70,000 shares on offer in the greenshoe.