FILE PHOTO: Ethan Brown, founder and CEO, Beyond Meat, speaks at the Milken Institute 21st Global Conference in Beverly Hills, California, U.S., May 1, 2018. REUTERS/Mike Blake
(Reuters) – Plant-based meat maker Beyond Meat Inc on Tuesday increased its expected price range and the size of its initial public offering, indicating strong investor demand.
The company said it expects to offer 9.63 million shares, up from 8.75 million shares. It expects the IPO to be priced between $23 and $25 per share, up from $19 and $21 per share, its latest filing with the U.S. Securities and Exchange Commission showed. (bit.ly/2GMa9vB)
The higher end of the indicative price range gives the company a market value of $1.5 billion, up from $1.21 billion earlier.
Reporting by Bharath Manjesh in Bengaluru; Editing by James Emmanuel