The US IPO drought of 2016 came to an end on Tuesday night as BeiGene and Editas Medicine priced the year’s first new issues. Each was already well oversubscribed from the outset of marketing, with bankers taking extra measures to ensure positive outcomes.
The US IPO drought is finally coming to an end. BeiGene, the Beijing-headquartered cancer therapeutics company, is in solid shape after lead managers Goldman Sachs, Morgan Stanley and Cowen accelerated pricing of its 5.5m-ADS IPO by
Baxter International commenced the process of resolving its majority Baxalta stake through the public market before Shire’s US$32bn takeover of Baxalta closes later this year.