Genmab, which is developing novel antibodies for cancer and other diseases, raised $506 million in its US IPO by offering 28.5 million ADSs at $17.75, slightly below the as-converted last close of its shares on the Nasdaq Copenhagen and at the time of its launch ($18.11). The company maintained its more than $500 million deal size by selling an additional 700,000 ADSs.
Genmab plans to list on the Nasdaq under the symbol GMAB. BofA Merrill Lynch, Morgan Stanley and Jefferies acted as joint lead bookrunners on the deal.
