IPO Roundup: BioNTech becomes 3rd-largest biotech to go public in a decade
BioNTech SE (NASDAQ:BNTX), a German biotechnology company developing individualized immunotherapies to treat cancer, raised $150 million Wednesday night in its IPO en route to a $3.4 billion valuation.
That feat made BioNTech the third-largest biotech company to go public in the last 10 years, according to broker Renaissance Capital, despite the fact that it downsized its offering.
The company offered 19 million shares at $15, the low end of its revised-down range of $15 to $16. Originally, the company had planned to offer 13.2 million shares at a price between $18 and $20 per share, which would’ve raised $251 million and secured a valuation of $4.45 billion.
After opening trading Thursday at $16.50, the stock fell to $13.89 on its second day of trading, or 7.4% below its IPO price.
HBT Financial Inc (NASDAQ:HBT), a bank holding company based in Bloomington, Illinois, raised $133 million Thursday evening after offering 8.4 million shares at $16 per share. The offering fell just below its projected range of $17 to $19 per share.
The 64-branch bank debuted at $16.20 on Friday but slid to $15.77, 1.5% lower than its IPO price.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/904689/ipo-roundup-biontech-becomes-3rd-largest-biotech-to-go-public-in-a-decade-904689.html
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