Legend Biotech shares jump nearly 61% in U.S. market debut

Luckin Coffee

05/06/2020 17:03

June 5 (Reuters) - Shares of Legend Biotech  LEGN.O , a cell
therapy unit owned by Hong Kong-listed Genscript Biotech
 1548.HK , jumped nearly 61% in their stock market debut,
signaling strong investor appetite for new listings.
    Legend Biotech's stock opened at $37, giving the company a
market valuation of $4.79 billion.
    Earlier in the day, Legend Biotech raised $423.8 million in
its initial public offering of 18.4 million shares after pricing
it at $23 per share, above its marketed range of $18 to $20 per
American Depositary Share.  urn:newsml:reuters.com:*:nBw2nxK4Ca

 (Reporting by Reporting by C Nivedita and Noor Zainab Hussain
in Bengaluru; editing by Uttaresh.V)
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Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))