Intrexon Corp. (NYSE:XON) of Germantown, Md., began trading on the New York Stock Exchange on August 9.
The IPO was quite successful. It was oversubscribed by an estimated 15-20 percent and sold 11.5 million shares at $16 apiece, clearing about $160 million. In addition, it traded on its first day up more than 50 percent, for a new market cap of about $2 billion.
The success of the IPO made founder Randal Kirk even wealthier. He owns 62 million shares, more than 60 percent of the company. His total holding in Intrexon has overnight gone to over $1.5 billion, which is nice for a man who already had $2.4 billion in estimated net worth.
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