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Finance Watch: Four IPOs In One Week, And Legend Is Year’s Largest So Far

 
• By Mandy Jackson

Public Company Edition: Legend Biotech raised $424m in its US public market debut. Also, Pfizer commits up to $500m for equity investments and Allogene capitalizes on ASCO with a $550m offering.

Finance Watch

Four biopharmaceutical companies launched initial public offerings during the first week of June, including China’s Legend Biotech Corp. with the biggest IPO so far in 2020. Eighteen drug developers have gone public in the US this year, bringing in $3.2bn.

Legend, a chimeric antigen receptor T-cell (CAR-T) therapy specialist, grossed $423.8m on 5 June from the sale of 18.4m American depository shares (ADSs) at $23 each – well above a...

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