Eli Lilly: sets IPO price for Elanco
(CercleFinance.com) - Eli Lilly announces that the IPO price for the of its Elanco subsidiary has been set at 24 dollars.
The stock begins trading on the NYSE today, 20 September, and the offer is expected to close on 24 September, subject to customary conditions.
The price used therefore means that a total of 1.51 billion dollars will be raised from this flotation, considering the 62.9 million shares that will be issued on the market (excluding the 30-day over-allocation option for 9.435 million additional shares).
Following this IPO, the Indianapolis based pharmaceutical group will hold approximately 82.3% of the capital of its animal health subsidiary (80.2% if the over-allotment option is fully exercised).
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The stock begins trading on the NYSE today, 20 September, and the offer is expected to close on 24 September, subject to customary conditions.
The price used therefore means that a total of 1.51 billion dollars will be raised from this flotation, considering the 62.9 million shares that will be issued on the market (excluding the 30-day over-allocation option for 9.435 million additional shares).
Following this IPO, the Indianapolis based pharmaceutical group will hold approximately 82.3% of the capital of its animal health subsidiary (80.2% if the over-allotment option is fully exercised).
Copyright (c) 2018 CercleFinance.com. All rights reserved.