Eli Lilly Spins Off Animal Health Division Elanco

According to the New York Stock Exchange, last week a total of six initial public offerings were priced on U.S. exchanges for $3.16 billion in capital raised. Healthcare had two of the six and raised $1.85 billion. The following are four of the notable IPOs last week, headlined by Eli Lilly’s spin off of Elanco Animal Health:

• Last week, shares of Elanco Animal Health (NYS: ELAN) were spun-off of pharmaceutical giant Eli Lilly. Elanco, which Eli Lilly will still retain just above an 80% stake in, raised just over $1.5 billion in the IPO. Elanco currently sells animal health products in the categories of flea and tick, vaccines, osteoarthritis and pain, animal only-antibiotics, probiotics, and food animal products.

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• Silicon Valley tech giant Eventbrite (NYS: EB) had its initial public offering last week. Eventbrite is a premium online ticketing and event management software used for three million events in 170 countries last year. The company raised $230 million after initially targeting $200 million, Eventbrite appears to be riding the tailwind of other successful tech IPOs in the last twelve months.

• Shares of Y-mAbs Therapeutics (NAS: YMAB) began trading last week Friday, raising $110.4 million in the process. The New York company, a late-stage biopharmaceutical company, is focused on the development and commercialization of anti-body-based products to target and treat cancers.
  

• Farfetch Limited (NYS: FTCH), provider of an online luxury clothing marketplace, began trading on the New York Stock Exchange last week, raising $884.9 million. Based in London, the company doesn’t host its own inventory of luxury goods, instead opting to allow global luxury brands to reach customers through its site.