(Bloomberg) — Biotechnology and drug-research services firm PPD Inc. raised $1.62 billion in the biggest U.S. initial public offering so far this year.The company sold 60 million shares Wednesday for $27 each after marketing them $24 to $27. PPD is valued in the IPO at $9.16 billion based on the outstanding shares listed in its filings.Business-to-business firms such as PPD have tended to fare better in their IPOs and afterward than consumer-focused companies, including the herd of so-called unicorns that have gone public in the past year. The two most prominent of those once-private startups with valuations of $1 billion …read more
Source:: Yahoo Finance
