(Corrects dateline to Nov 5 from Nov 6)
(Reuters) -Molecular diagnostics firm BillionToOne raised $273.1 million in its U.S. initial public offering on Wednesday, pricing its shares above its marketed range.
The Menlo Park, California-based company sold about 4.6 million shares priced at $60 apiece in the IPO, compared with its targeted range of $49 and $55, giving it a potential valuation of about $2.64 billion.
The offering came as U.S. IPO activity rebounded after an earlier slowdown sparked by market volatility stemming from President Donald Trump’s shifting trade policies.
Investor demand for new listings had strengthened, though the recent government shutdown caused temporary delays in the IPO pipeline.
Still, companies were able to proceed by using a provision that allowed registrations to take effect automatically, requiring pricing to be set 20 days before the listing rather than finalizing it the night before.
BillionToOne is a molecular diagnostics company that develops non-invasive prenatal and oncology blood tests using its single-molecule sequencing technology.
(Reporting by Prakhar Srivastava and Bipasha Dey in Bengaluru; Editing by Mrigank Dhaniwala and Rashmi Aich)
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