Elanco IPO launched, shares begin trading on NYSE

Elanco Animal Health began trading on the New York Stock Exchange (NYSE) on September 20 under the ticker symbol “ELAN.” “A historic day for Elanco! A tribute to our 5,800 team members who made it happen, and the amazing farmers, veterinarians and pet owners we serve,” Elanco President Jeff Simmons posted on Twitterto commemorate the IPO. The pricing of its initial public offering (IPO) of 62.9 million shares of its common stock began selling at a price to the public of $24 per share. The stock’s value grew throughout the day, as Bloombergreported that shares rose to $32.11 as of 11:40 a.m., giving it a market value of $11.7 billion.The offering is expected to close on September 24, 2018, subject to customary closing conditions.