Pfizer's Zoetis animal health unit raises $2.24 billion in IPO

Zoetis (Madison, NJ), the animal health unit owned by Pfizer, raised $2.24 billion in its previously announced initial public offering. Zoetis sold 86.1 million of its Class A common stock at $26/share, the company said on Thursday. Pfizer retains 100% of the outstanding Class B common stock of Zoetis and an 83% ownership in the company. The price values Zoetis at $13 billion.   The shares start trading today on the New York Stock Exchange. The IPO was led by J.P. Morgan Chase, Bank of America, and Morgan Stanley. Skadden (New York) is advising Pfizer...

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