Let’s hear it for Mead Johnson Nutrition Co. (MJN), the world’s biggest maker of infant formula, which raised $720 million in an initial public offering yesterday. Bloomberg reports that the IPO is the first in the U.S. since November 2008.
Mead Johnson stated that it sold 30 million shares at $24 each, at the top of an expected range of $21 to $24, and 5 million more shares than planned.
Two other companies — Changing World Technologies Inc., a maker of renewable diesel fuel and organic fertilizers, and O’Gara Group Inc., which provides security and defense products such as night-vision equipment — are also expected to price their upcoming IPOs this week.
