Beyond Meat loses sizzle as pre-lPO investors sell

摘要

BEYOND MEAT, the plant-based fake meat maker whose May IPO ranks as this year's hottest debut, took some of the heat out of its lofty valuation by bringing a US$520m secondary offering that enabled early investors to take some profits. After two days of marketing, active bookrunners Goldman Sachs, JP Morgan and Credit Suisse priced the sale of 3.25m shares or 5% of the company at US$160 each, a 28% all-in discount and a far steeper concession than the average follow-on.