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SoftBank-backed Lemonade raises IPO price range

July 1 (Reuters) - SoftBank Group Corp-backed insurance startup Lemonade Inc on Wednesday increased the target range for its U.S. initial public offering, looking to raise up to $308 million at a market capitalization of $1.54 billion.

The company intends to sell 11 million shares in the IPO at a target range of $26 to $28 per share, according to a filing. (https://bit.ly/3dVnD72)

It had earlier expected the offering to be priced between $23 and $26 per share. (Reporting by Abhishek Manikandan in Bengaluru; Editing by Arun Koyyur)