Eli Lilly: animal health unit Elanco sets IPO price range
(CercleFinance.com) - The IPO share price range of animal health and food company Elanco is expected to be between 20 dollars and 30 dollars, its parent company Eli Lilly said on Thursday.
As Elanco plans to offer 62.9 million shares of its common stock in the IPO, the company should raise over 1.5 billion dollars in the transaction.
The underwriters will also have a 30-day option to purchase up to 9.4 million additional shares of common stock at the IPO price.
Following the IPO, its parent company Lilly is expected to hold approximately 82.3% of Elanco.
The net proceeds from the IPO are expected to be paid to Lilly as consideration for the animal health businesses that Lilly is transferring to Elanco in connection with the IPO.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
As Elanco plans to offer 62.9 million shares of its common stock in the IPO, the company should raise over 1.5 billion dollars in the transaction.
The underwriters will also have a 30-day option to purchase up to 9.4 million additional shares of common stock at the IPO price.
Following the IPO, its parent company Lilly is expected to hold approximately 82.3% of Elanco.
The net proceeds from the IPO are expected to be paid to Lilly as consideration for the animal health businesses that Lilly is transferring to Elanco in connection with the IPO.
Copyright (c) 2018 CercleFinance.com. All rights reserved.