Biotech company LianBio (Nasdaq: LIAN) started trading on the Nasdaq Global Market today. The Shanghai-based firm aims to raise approximately US$325 million in its debut on the US big board.
The offering consisted of 20,312,500 American depositary shares at US$16.00 per ADS, which represents 1 ordinary company share. The ADSs will be trading on the Nasdaq exchange under the symbol “LIAN”.
Goldman Sachs & Co., Jefferies, and BofA Securities, Inc. are acting as the joint bookrunners for the said offering. The underwriters were given a 30-day over-allotment option to purchase up to an additional 3,046,875 ADSs at the same IPO price.
The company also has its offices in Princeton, New Jersey. According to its website, the firm aims “to bring transformative medicines to historically underserved patients in China and other Asian markets.”
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.