MiniMed Group Shares Fall After Nasdaq Debut

MT Newswires Live

03/07

MiniMed Group (MMED) shares were down about 5% in afternoon trading on Friday amid a broadly weaker market after its trading debut on the Nasdaq earlier in the day.

The diabetes-focused firm priced its initial public offering of 28 million shares at $20 apiece. The offering is set to close Monday.

Parent company Medtronic (MDT) has said it will hold about 90% of MiniMed after the IPO, or 88.70% if its underwriters exercise their over-allotment option in full.

Price: 19.01, Change: -1.00, Percent Change: -4.98

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