(Reuters) - Biotechnology company Intrexon Corp’s XON.N shares rose as much as 38 percent in their market debut, valuing the company at more than $2 billion.
Intrexon raised $160 million after its initial public offering of 10 million shares was priced at $16 each, at the high end of the expected range.
The company’s shares were trading at $22.36 on the New York Stock Exchange. About 1.9 million shares had changed hands at 0952 ET. The stock was the top percentage gainer on the exchange.
Reporting By Neha Dimri and Avik Das in Bangalore; Editing by Joyjeet Das