(Reuters) – SoftBank Group Corp-backed <9984.T> insurance startup Lemonade Inc on Wednesday increased the target range for its U.S. initial public offering, looking to raise up to $308 million at a market capitalization of $1.54 billion.
The company intends to sell 11 million shares in the IPO at a target range of $26 to $28 per share, according to a filing. (https://bit.ly/3dVnD72)
It had earlier expected the offering to be priced between $23 and $26 per share.
(Reporting by Abhishek Manikandan in Bengaluru; Editing by Arun Koyyur)
