SINGAPORE (May 6): On May 2, the maker of what is essentially fake meat raised US$241 million ($328.36 million) in an IPO on Nasdaq. California-based Beyond Meat sold 9.63 million shares at US$25 each, the top of the pricing range. The listing gives the 10-year-old company an implied value of about US$1.46 billion, or 16.6 times its 2018 revenue of US$87.9 million. It had been making losses of around US$30 million for both 2017 and 2018.

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