Shares in TopoTarget, a Danish biotechnology company, soared by a fifth after it started trading this morning. UK rival ProStrakan, by contrast, today cut the reduced price of its initial public offering by a further 25%.

ABN Amro Rothschild/Alfred Berg, Danske Markets and Handelsbanken Capital Markets led the Dkr225m (€30m) TopoTarget offer which is the first flotation in Denmark for four years.