Agence France-PresseFebruary 1, 2013 15:30
Zoetis, pharmaceutical giant Pfizer's animal-health division, made a dramatic debut on Wall Street Friday as the biggest initial public offering since Facebook.
At around 1840 GMT, shares of the new equity had soared to $31.25, a hefty 20.2 percent above its introductory price of $26 a share under the "ZTS" symbol on the New York Stock Exchange.
The jump means the Zoetis offering, with 86.1 million shares, is valued at nearly $2.7 billion. The offering will leave Pfizer with 83 percent ownership of Zoetis.