Wilmington pharmaceutical company PPD goes public
WILMINGTON, N.C. (WECT) - PPD is now a publicly traded company.
PPD CEO David Simmons rang the Nasdaq opening bell Friday as the company began trading as a public company.
Bloomberg says PPD has raised $1.62 billion in the biggest US IPO so far in 2020. On Wednesday, PPD announced in a news release it was offering 60 million shares of its common stock at $27 per share.
The company’s 23,000 employees also celebrated the Nasdaq listing across the company’s many locations.
The offering is expected to close on Feb. 10, 2020, subject to customary closing conditions.
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