Arab Today, arab today pfizer unit zoetis makes strong market
Last Updated : GMT 14:51:42
Arab Today, arab today
Arab Today, arab today

Pfizer unit Zoetis makes strong market

Arab Today, arab today

Arab Today, arab today Pfizer unit Zoetis makes strong market

New York - AFP

Zoetis, pharmaceutical giant Pfizer\'s animal-health division, made a dramatic debut on Wall Street Friday as the biggest initial public offering since Facebook. At around 1840 GMT, shares of the new equity had soared to $31.25, a hefty 20.2 percent above its introductory price of $26 a share under the \"ZTS\" symbol on the New York Stock Exchange. The jump means the Zoetis offering, with 86.1 million shares, is valued at nearly $2.7 billion. The offering will leave Pfizer with 83 percent ownership of Zoetis. Under the public offering, Zoetis will trade independently of Pfizer on the New York Stock Exchange, but will still be majority-owned by the pharmaceutical giant. Five of the nine members of the Zoetis board currently work for Pfizer. Zoetis generated heavy interest from investors after the group indicated Thursday that it would raise its IPO price to $26 after initially proposing a price in the $22-$25 range. An additional 12.8 million shares of Zoetis could be sold in a supplementary offering. If the additional allocation is sold, Pfizer will own 80 percent of Zoetis. \"With the Zoetis initial public offering, we are creating the largest standalone company fully devoted to animal health medicines and vaccines,\" said Pfizer chief executive Ian Read. \"For Pfizer, we are better positioned to focus on our core business as an innovative biopharmaceutical company, by unlocking value from the animal health business that will return value to Pfizer shareholders,\" Read said in a statement. Zoetis reported revenues of $4.2 billion in 2011 and $3.2 billion through the first nine months of 2012. Its profits during these periods were $245 million and $446 million, respectively. Pfizer had announced plans to undertake the offering in June and filed its official papers with the Securities and Exchange Commission in August. Zoetis\'s market debut was the biggest since Facebook\'s IPO on May 18, 2012, which gave the social networking giant a market value of $104 billion.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pfizer unit zoetis makes strong market Arab Today, arab today pfizer unit zoetis makes strong market

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pfizer unit zoetis makes strong market Arab Today, arab today pfizer unit zoetis makes strong market

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday