Autonomous drone developer EHang floated at the bottom of its range in an initial public offering that allowed Lung Biotechnology and United Therapeutics to exit.

EHang Holdings, a China-based drone technology developer that counts corporates Lung Biotechnology and United Therapeutics Corporation as investors, has gone public in a $40m initial public offering in the US. The company priced 3.2 million American Depositary Shares (ADSs), each representing two ordinary shares, at $12.50 each, at the foot of the $12.50-$14.50 range it…

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