PPD Inc. shares PPD, +13.78% soared 14% in their trading debut Thursday, after the drug research company's initial public offering priced at the high end of its $24 to $27 price range. The company sold 60 million shares to raise $1.62 billion. Sixteen banks underwrote the deal, led by Barclays, JPMorgan, Morgan Stanley and Goldman Sachs. Proceeds of the deal will be used to pay down debt and for general corporate purposes.
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