The Swedish investment company, Kinnevik AB said it has set the final price in its initial public offering at $28 per share.
The IPO price will now give Livongo a valuation of USD 2.8 billion.
The Swedish company said it will buy 2,991,795 shares of Livongo’s common stock from Merck for a cash consideration of USD 84 million.
Kinnevik also said it has agreed to purchase newly issued shares of Livongo’s common stock in the IPO for a cash consideration of approximately USD 6 million.
Kinnevik is expected to own approximately 13.8% of Livongo’s outstanding shares.