May 5, 2011 / 11:23 AM / 7 years ago

CORRECTED-UPDATE 1-Advanced Biohealing sees IPO of about $200 mln

(Corrects paragraph four to show that the company’s shares will be listed on the New York Stock Exchange, not on Nasdaq)

* Total offering of 13.4 mln shares

* Company to sell 8.4 mln shares

* Expects offering to be priced at $14-$16 per share (Follows alerts)

May 5 (Reuters) - Advanced Biohealing Inc, a regenerative drug maker, said it would price its initial public offering at $14-$16 per share and expects to raise about $200 million.

Of the total 13.4 million shares, the company will sell 8.4 million, while the rest will be offered by selling stockholders, it said in a regulatory filing.

The Westport, Connecticut-based company posted revenue of $146.7 million in 2010, up almost 72 percent from the prior year.

Advanced BioHealing plans to list on the New York Stock Exchange under the symbol “ABHB”.

Underwriters on the offering are led by Bank of America Merrill Lynch and JP Morgan. (Reporting by Mayuresh Tungare in Bangalore; Editing by Roshni Menon)

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