Washington-based life sciences conglomerate Danaher Corp. has executed a long-anticipated spinout for its dental products business Envista Holdings Corp. via a $589 million IPO. Based in Brea, Calif., the company priced a bit below the middle of the anticipated share price range at $22 and sold 26.8 million shares, as it had planned.
HONG KONG & BEIJING – Chinese biosimilar make Shanghai Henlius Biotech Inc. is ready to list on the Hong Kong Stock Exchange (HKEX) on its second try. The firm plans to issue 64.7 million shares globally under the stock code 2696. The maximum offer price is HK$57.8 per share, which means the biosimilar maker could raise as much as HK$3.74 billion (US$477 million).
Pleasanton, Calif.-based 10x Genomics Inc. priced its initial public offering to raise $390 million and then immediately climbed in the first hours of trading. The single-cell sequencing company had upwardly revised its share price range twice – and then priced above the latest one at $39 per share, heading to above $55 (NASDAQ:TXG) in its first few hours as a public company. That gave it a market cap of about $5.1 billion. 10x Genomics also took advantage of its momentum by boosting the number of shares to 10 million from the anticipated 9 million.
HONG KONG & BEIJING – Chinese biosimilar maker Shanghai Henlius Biotech Inc. is ready to list on the Hong Kong Stock Exchange (HKEX) on its second try. The firm plans to issue 64.7 million shares globally under the stock code 2696. The maximum offer price is HK$57.8 per share, which means the biosimilar maker could raise as much as HK$3.74 billion (US$477 million).
Although investor sentiment continues to remain low and unlikely to change for the remainder of the year, it seems that fact has fallen on deaf ears of those companies looking to graduate to the public ranks. Already in the first few days of September, five biopharma companies have added themselves to the IPO runway, bringing the number of pending U.S. offerings to 12, according to BioWorld.
It has been a few years since there was an active market for digital health IPOs. But that's changed now. Chronic health care management company Livongo Health Inc. has raised $355 million in an IPO, following last month's $609 million public debut for health care workflow management software company Change Healthcare Inc.
HONG KONG – Sinomab Bioscience Ltd., a Hong Kong clinical-stage antibody firm, said its application for a Hong Kong IPO was accepted by the stock exchange, making it the 16th biopharma to submit an application under the new rules of the Hong Kong Exchange (HKEX).
DUBLIN – To no one's great surprise, the underwriters of Genmab A/S's IPO on Nasdaq exercised their overallotment option, the company announced Friday, taking the total gross to $581.8 million. The Copenhagen-based antibody developer priced the offering of about 32.8 million American depositary shares at $17.75 Thursday. The stock (NASDAQ:GMAB) ended the week at $18.10.
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