Zoetis IPO Raises $2.2 Billion

The Wall Street Journal reported that Zoetis Inc., a former subsidiary of Pfizer Inc. (NYSE:PFE), raised approximately $2.2 billion in its initial public offering (IPO) — that makes it the largest IPO since Facebook Inc.’s (NASDAQ:FB) in May 2012.

As quoted in the market news:

The $26 price was more than the range of $22 to $25 initially outlined in documents filed with the Securities and Exchange Commission. Zoetis will command a market value of around $13 billion based on the offer price.

Zoetis, of Madison, N.J., is the largest animal-medicine company in the world by revenue. It makes vaccines and drugs for livestock such as cattle and swine, as well as for pets.