UPDATE 1-IMS Health IPO at $20/shr, values co at about $6.64 bln

Thu Apr 3, 2014 11:28pm EDT

(Adds offer details, background)

April 3 (Reuters) - IMS Health Holdings Inc, TPG Capital Management-backed healthcare information company, said its initial public offering was priced at $20 per share, valuing the company at about $6.64 billion.

With 65 million shares offered, the IPO raised about $1.30 billion. The offer price was slightly above the midpoint of its expected price range of $18-$21 per share.

IMS Health is selling 52 million shares while the rest are being offered by selling shareholders, the company said.

TPG, Canada Pension Plan Investment Board (CPPIB) and Leonard Green & Partners LP took IMS Health private in 2010 for $5.2 billion, including debt.

After the offering, TPG Capital's stake will be reduced to 50 percent from 62.2 percent, without underwriters exercising their full option.

The underwriters have a 30-day over-allotment option of 9.75 million shares at the offer price, the company said.

Net proceeds from the offering would be used for debt refinancing and general corporate purposes, IMS Health said.

Danbury, Connecticut-based IMS Health provides prescription data to the pharmaceutical industry, medical device makers, government agencies and other companies in the healthcare sector. Founded in 1954, the company has over 5,000 clients and operates in more than 100 countries, according to its website.

The company said 90 percent of its information revenue in the last three fiscal years came from subscription or license-based contracts.

IMS's operating income rose to $276 million in the nine months ended Sept. 30, 2013 from $173 million a year earlier. Revenue increased 4 percent to $1.87 billion.

IMS shares will start trading on Friday on the New York Stock Exchange under the symbol "IMS."

JP Morgan, Goldman Sachs, Morgan Stanley and BofA Merrill Lynch were among the underwriters for the IPO.

The company has a total of 331.892 million shares outstanding. (Reporting by Avik Das in Bangalore; Editing by Gopakumar Warrier)