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Highlights
- LianBio will reportedly start trading on the Nasdaq Global Market on Monday, November 1.
- The biotechnology company is focused on bringing innovative medicines to people in China and other Asian countries.
- The joint underwriters for LianBio IPO are BofA Securities, Jefferies LLC and Goldman Sachs & Co. LLC.
LianBio, a biotechnology company headquartered in New Jersey, announced the pricing of its 20.3 million American Depositary Shares (ADSs) at US$ 16 per ADS. At this price, the company will raise approximately US$ 325 million in gross proceeds from the public debut.
The biotechnology company is focused on bringing innovative medicines to people in China and other Asian countries. Notably, an ADS refers to the shares of a foreign company held by US depositary banks and is available for purchase by investors in the US.
Every American Depositary Share is equal to one ordinary share of LianBio, and all ADSs will be offered by the biotechnology company. Additionally, the underwriters for the initial public offering (IPO) will get an option of buying an additional three million ADSs within 30 days.
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Everything you need to know about LianBio IPO
Notably, the ADSs will reportedly start trading on the Nasdaq Global Market on Monday, November 1.
LianBio will trade under the stock symbol 'LIAN', and the offering will close by November 3, and the closing will be subjected to customary closing conditions.
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The joint underwriters for the stock offering are BofA Securities, Jefferies LLC and Goldman Sachs & Co. LLC. Meanwhile, the leading underwriting responsibility for the IPO is on Raymond James.
Generally, a newly listed company starts trading one hour later after the markets open in the US or after 10 AM EST.
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Those interested in buying the LianBio stock, should track the Nasdaq and once it begins trading, investors may use stock trading apps to get hold of the stock.
Bottom line
In the US Securities and Exchange Commission (SEC) prospectus, LianBio claims that it is a cross-border biotechnology company, advancing a diversified portfolio of clinically validated products through partnerships with innovative biotechnology companies.
According to LianBio, China is the second-largest pharmaceutical market globally and generated a revenue of US$ 89 billion in 2020.
The market is expected to generate a revenue of US$ 187 billion by 2025, and the biotechnology companies have a growth potential due to the rapidly growing demand.
