Tekla Capital Management LLC (Telka) announced yesterday the successful initial public offering (IPO) of Tekla Healthcare Opportunities Fund, a closed-end management investment company managed by Tekla. The Trust priced an offering of 38.5 million shares at a price of US$20.00 per share, for a total issuance of US$770 million. The total issuance may reach up to US$885 million should the underwriters exercise their over-allotment option in full, which may or may not occur. Shares commenced trading on the New York Stock Exchange on July 29, 2014 under the ticker symbol THQ.

Joseph Fleming, co-chair of Dechert LLP’s Financial Services group, led the firm’s team on the matter with assistance from associates Lisa Price and Leah Schubert.