INSUBCONTINENT EXCLUSIVE:
Vegan burger maker Beyond Meat Inc, which counts Microsoft founder Bill Gates and actor Leonardo DiCaprio among its investors, on Wednesday
priced its initial public stock offering at $25 per share, the top of its anticipated range in a reflection of brisk investor demand.At this
price, Beyond Meat raised around $240 million at a $1.5 billion valuation, including underwriters' options.Plant-based meat substitutes have
been gaining popularity as more attention is focused on the environmental hazards of industrial ranching.The Los Angeles-based company in
early January announced it was rolling out its plant-based burger at fast-food chain Carl's Jr
The company starts trading on the Nasdaq on Thursday with the symbol.The company had raised its price target range from $19 to $21 a share
on Tuesday to $23 to $25, suggesting strong investor demand
It also increased the number of shares it was offering by 10 per cent.Tyson Foods Inc, the no
1 US meat processor, owned a 6.5 per cent stake in Beyond Meat but last week sold its investment in the company since it decided to develop
its own line of alternative protein products.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019
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