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Ireland's Malin raises up to 330 million euros in IPO

(Adds details of shareholders; refiled to add related Reuters Instrument Code (RIC))

* Malin raises 302 mln euros, further 28 mln committed

* Insurer Aviva to take 7.7 pct stake in new company

By Padraic Halpin

DUBLIN, March 20 (Reuters) - Malin has raised up to 330 million euros in one of Europe's biggest life science IPOs, the Irish company said on Friday, surpassing its target range of 275 to 325 million euros as it prepares to invest the cash in smaller, pre-IPO companies.

Malin, set up by a number of executives from former Irish stock market stalwart Elan, said that 302 million euros will be raised through the issue of new ordinary shares on its admission to Ireland (Other OTC: IRLD - news) 's ESM market on Wednesday.

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It added that up to a further 28 million euros had been committed subject to certain conditions, primarily by its largest investor, Woodford Investment Management, at the 10 euros per share issue price.

Reuters reported on Thursday that Malin had raised 330 million euros, topping the 200 million pounds Circassia raised a year ago in the biggest London market biotech debut in years.

Malin has said it will invest in companies for which an initial public offering (IPO) or sale is premature and provide the long term capital and industry experience it says venture capital and private equity funds cannot guarantee.

It has committed 100 million euros to seven such firms, from a U.S. disinfection technology company to a Pan-African distributor, with a further 130 million euros promised subject to contingent commitments being met.

Malin will use the rest of the funds to make a number of further acquisitions and investments after its flotation.

Malin said on Friday that its cornerstone investors Woodford Investment Management, the firm set up last year by leading British fund manager Neil Woodford, and the Irish state's new strategic investment fund will own 19.5 percent and 15.4 percent of the stock respectively.

The additional committed investment would bring Woodford's stake up to 28 percent, Malin said.

To match its strategy, Malin had set out to attract long term investors and said on Friday it sold 13.9 percent of the shares to Reedy Creek Investments, 9.3 percent to Britain's Pension Protection Fund and 7.7 percent to insurer Aviva Plc (Other OTC: AIVAF - news) .

"We are delighted at the quality of Irish, UK and global investors who have participated in the offering and who share our long-term vision for Malin," Malin chairman said in a statement. (Editing by Greg Mahlich)