Royalty Pharma IPO prices at top of range in biggest 2020 U.S. listing: sources

Royalty Pharma RPRX.O is set to sell shares in its U.S. initial public offering (IPO) at the top end its target range, in the biggest U.S. listing of the year so far, according to people familiar with the matter. The company expects to sell shares at $28 each, having last week set a target price range for the IPO of between $25 and $28 per share, the sources said. Royal Pharma had aimed to sell 70 million shares but may increase the number of shares by up to 10%, the sources said. A spokeswoman for Royalty Pharma, which buys biopharmaceutical royalties and also helps fund new treatments, declined to comment.

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