Nan Fung-backed hearing aid producer Eargo's shares opened at double its IPO price after it floated above its range.

Eargo, a US-headquartered hearing aid developer backed by real estate developer Nan Fung, floated on Friday in an initial public offering sized at approximately $141m.

The offering involved Eargo increasing the number of shares in the offering from approximately 6.67 million to more than 7.85 million and pricing them at $18.00 each, above the IPO’s $14 to $16 range.

The company’s shares opened on the Nasdaq Global Select Market at $36.00 on Friday morning and closed at $33.68 on their…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Robert Lavine

Robert Lavine is special features editor for Global Venturing.
Email LinkedIn