Elanco Animal Health Inc. (NYSE: ELAN) shares that it is planning to commence the public offering of 54,500,000 shares of common stock. It will also offer the opportunity to buy an extra 8,175,000 shares of the same kind.

The joint book-running managers for the offering include Credit Suisse, Goldman Sachs & Co, and BofA Securities. The stock was initially held by Bayer World, and it is the only shareholder that will be selling its shares. Elanco is not trading its shares and will not be receiving any profit from the shares sold by Bayer World Investment BV.