{"id":132498,"date":"2021-07-16T17:44:00","date_gmt":"2021-07-16T17:44:00","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132498"},"modified":"2021-07-16T17:44:00","modified_gmt":"2021-07-16T17:44:00","slug":"vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/","title":{"rendered":"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut"},"content":{"rendered":"
FILE PHOTO: A medical worker holds a vial of a COVID-19 vaccine in a newly opened mass vaccination centre at the Cecchignola military compound, in Rome, Italy, February 23, 2021. REUTERS\/Remo Casilli\/File Photo<\/figcaption>

(Reuters) -Italy\u2019s Stevanato Group S.p.A. made a tepid debut on the New York Stock Exchange as its shares slid, giving the world\u2019s second largest glass vial maker a valuation of $5 billion.<\/p>\n

Stevanato\u2019s shares fell more than 20% to open at $16.65 on Friday. The company had priced its initial public offering (IPO) of 32 million shares, down from 40 million shares earlier, at the lower end of its target range of $21 to $24 per share.<\/p>\n

The maker of COVID-19 vaccines vials and other healthcare products raised about $672 million in its IPO on Thursday.<\/p>\n

\u201cIPO is the best way to further finance the business…most of the proceeds of the IPO, we are going to invest in the new greenfield plants, one in Indiana, and one in China,\u201d said Franco Stevanato, executive chairman of the company\u2019s board.<\/p>\n

The company saw demand for its products and service go up due to the COVID-19 pandemic. It provides vials to about 90% of currently marketed COVID-19 vaccine programs, according to Stevanato\u2019s estimates.<\/p>\n

Majority of the company\u2019s total revenue comes from its biopharmaceutical and diagnostic solutions segment that makes vials, cartridges and drug delivery systems, among others, according to a recent filing by the company.<\/p>\n

The medical packaging company, originally founded as specialty glass manufacturer by billionaire Sergio Stevanato in 1949, has more than 700 customers, including 41 of the top 50 pharmaceuticals companies, the filing showed.<\/p>\n

Morgan Stanley, BofA Securities and Jefferies were the lead underwriters for the offering.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FILE PHOTO: A medical worker holds a<\/p>\n","protected":false},"author":3,"featured_media":132497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nVaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: A medical worker holds a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-16T17:44:00+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Vaccine-vial-maker-Stevanato-valued-at-over-5-billion-in-tepid-NYSE-debut.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/\",\"url\":\"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/\",\"name\":\"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-07-16T17:44:00+00:00\",\"dateModified\":\"2021-07-16T17:44:00+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/precoinnews.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/","og_locale":"en_US","og_type":"article","og_title":"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut - Pre Coin News","og_description":"FILE PHOTO: A medical worker holds a","og_url":"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/","og_site_name":"Pre Coin News","article_published_time":"2021-07-16T17:44:00+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Vaccine-vial-maker-Stevanato-valued-at-over-5-billion-in-tepid-NYSE-debut.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/","url":"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/","name":"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-07-16T17:44:00+00:00","dateModified":"2021-07-16T17:44:00+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/business\/vaccine-vial-maker-stevanato-valued-at-over-5-billion-in-tepid-nyse-debut\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/precoinnews.com\/category\/business\/"},{"@type":"ListItem","position":3,"name":"Vaccine vial maker Stevanato valued at over $5 billion in tepid NYSE debut"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/132498"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=132498"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/132498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/132497"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=132498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=132498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=132498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}