Genetron boosts shares to sell in IPO by 23% to 16 million
Genetron Holdings Ltd. upsized its initial public offering to 16 million American depositary shares (ADS) from 13 million ADS, as the China-based cancer treatment developer now expects to raise up to $216 million, up from a previous expectation of up to $175.5 million. The IPO is still expected to price between $11.50 and $13.50 per ADS. Credit Suisse and CICC are the joint book-running managers. If the underwriters exercise all the options to buy additional shares to cover overallotments, Genetron could raise up to $248.4 million. The company is looking to go public at a time that the Renaissance IPO ETF has soared 85.2% over the past three months, while the S&P 500 has gained 29.8%.
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