The Takeda Vaccines spinoff floated in an upsized offering that granted its former parent $100m in shares.

US-headquartered vaccine developer HilleVax floated on the Nasdaq Global Select Market on Friday in a $200m initial public offering enabling Takeda, the pharmaceutical firm from which it was spun off, to exit.

The company had increased the size of the offering from approximately 10.3 million shares to nearly 11.8 million shares and priced them at $17.00 each, in the middle of the IPO’s $16 to $18 range. They closed at $20.06 yesterday, giving it a market capitalisation of about…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.