Legend Biotech sets ball rolling on $369m US IPO

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By Jonathan Breen
01 Jun 2020

Biopharmaceutical company Legend Biotech Corp has kicked off bookbuilding for its Nasdaq IPO of up to $368.5m, according to a source familiar with the matter.

The Chinese company is being spun off by Hong Kong-listed Genscript Biotech, with the help of bookrunners Jefferies, JP Morgan and Morgan Stanley.

Legend is offering 18.4m American Depositary Shares (ADS) at $18.00 to $20.00 each, meaning it could raise anywhere from $331.7m to $368.5m. The float ...

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