Genmab steps up for a $500M IPO haul, with its sights on a record-setting market cap

Genmab is right on the threshold now of completing the largest biotech listing — by market cap — that Renaissance Capital has seen for the past 20 years or more.

The Copenhagen-based company has set its terms for a Nasdaq debut, planning to sell 27.8 million shares at $18.11 a share — the value of their stock as of the close on Friday. That would give them a market cap of $11.8 billion, which is a rare sight on Wall Street.