IMS Health prices initial public offering
The healthcare data firm is putting 52m shares up for sale, with the resulting proceeds – around $1bn – earmarked for paying down existing long-term debt.
Meanwhile, the investment firms that took IMS private in a $5bn deal in 2010 will sell 13m shares – returning $260m to their coffers.
IMS filed for an IPO in January this year. The offering is expected to close on 9 April. Shares are expected to begin trading on the New York Stock Exchange (NYSE) today under the ticker symbol IMS.
Pictured is IMS CEO Ari Bousbib.
UPDATE: IMS shares opened at $22.18 on the NYSE this morning. As of 10.15am ET they were trading at $22.85.
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