The US-based biotechnology company, previously backed by BASF and ASF, would have a market capitalisation of $365.3m if it floats at the top end of its range.

Luca Technologies, backed by corporates ASF and BASF, set the upper limit of its flotation range at $110.5m on Wednesday.

Luca is looking to sell 8.5 million shares at between $11 per share and $13 per share. It has also granted its underwriters "a green shoe" of 1.275m shares, according to the company’s securities and exchange Commission filing.

Luca is set to trade on Nasdaq with the symbol LUCA. The top end of the range would give…