Kardigan IPO expected to price at top of range today

Investing.com -- Kardigan Inc.'s initial public offering is expected to price at the top of its marketed range or above on Wednesday, Bloomberg reported.

The clinical-stage cardiovascular disease specialist's offering has attracted demand for multiple times the available shares, the report said. The IPO has drawn anchor-type orders from long-only investors.

The developer of precision medicines for cardiovascular diseases is seeking to raise up to $373.3 million by offering 23.3 million shares priced between $14 and $16 each.

Shares are set to begin trading on the Nasdaq Global Market on Thursday under the symbol KARD.

JPMorgan Chase & Co. Jefferies Financial Group Inc., Leerink Partners and Toronto-Dominion Bank are working on the offering.

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