Vegan launch takes off
SHARES in plant-based burger maker Beyond Meat soared nearly 120pc on its debut on the Nasdaq – valuing it at £2.5bn.
The US company, which counts Bill Gates and Leonardo DiCaprio among investors, raised £185m in a bumper listing.
Its shares were priced at $25 but the stock soared as soon as it went live, jumping to $54.
Beyond Meat, founded in 2009, makes vegan sausages and burgers using pea protein and beetroot juice to make them ‘bloody’, which are sold at 12,000 restaurant and food outlets in North America.