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IMS Health IPO priced at $20/share - market source
April 4, 2014 / 2:35 AM / 3 years ago

IMS Health IPO priced at $20/share - market source

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

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

IMS is selling 52 million shares while the rest are being offered by selling shareholders.

IMS 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.

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)

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