ARTICLE | Strategy
Biocon's bellwether role
April 12, 2004 7:00 AM UTC
Biocon Ltd., an Indian company with its roots in fermentation technology, popped the cork on its IPO last week, as the valuation of South Asia's first biotech to tap the public markets rocketed from $722 million to $1.3 billion in three days of trading.
After opening Wednesday at 400 Rs, the shares closed Friday at 581 Rs, up 181 Rs (45%) on the week. In the IPO on March 25, the company sold 10 million shares at 315Rs (see BioCentury, March 25). ...