Jan 23 (Reuters) - Cancer drug developer CG Oncology said on Tuesday it was aiming to raise up to $306 million in its U.S. initial public offering, higher than it had previously expected.
The move follows strong demand for new share sales after a dry spell that lasted nearly two years, thanks to firming bets of an interest-rate cut by the Federal Reserve.
Kaspi.kz, the Kazakhtstan-based fintech heavyweight that debuted last week, had also upsized its IPO.
CG Oncology said it plans to sell 17 million shares priced between $16 and $18 each. It had earlier aimed to sell 11 million shares.
If the offering is priced at the top end of the indicated range, CG Oncology would be valued at $1.1 billion in the IPO.
Morgan Stanley, Goldman Sachs, Cantor and LifeSci Capital are the underwriters. The company is seeking to list on the Nasdaq under the symbol "CGON". (Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)
