Nan Fung-backed biopharmaceutical company Stealth Bio has filed for an IPO that could bring in almost $87m if it floats at the top of the range.

Stealth BioTherapeutics, a US-based biopharmaceutical company backed by an affiliate of conglomerate Nan Fung, has set the terms for an initial public offering, setting a $12 to $14 range for its shares.

The company will issue 6.2 million American Depositary Shares (ADSs), each representing 12 ordinary shares, on the Nasdaq Global Market to raise between $74.4m and $86.8m. If the underwriters take up an option to purchase an additional 930,000 more ADSs, the IPO’s size would increase to $99.8m.

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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