UPDATE 1-Animal Health International raises $130 mln in IPO
(Adds details)
NEW YORK, Jan 30 (Reuters) - Animal Health International Inc., which distributes animal health products, on Tuesday raised $129.8 million in an initial public offering that was priced in the middle of the forecast range.
The 11.8-million-share offering was priced at $11 per share, in the middle of the forecast range of $10 to $12, according to an underwriter.
Net proceeds from the offering, which represents about a 48 percent stake in the company, will be used for paying debt, working capital and general corporate purposes, including potential acquisitions, according to documents filed with the U.S. Securities and Exchange Commission.
The Westlake, Texas-based company sold 9.1 million shares while private equity firm Charlesbank Capital Partners, which acquired the company in 2005, sold 2.7 million shares.
The company sells more than 35,000 animal health products that range from pharmaceuticals to equipment and devices for both livestock and household pets.
Underwriters, led by JPMorgan Chase & Co., will have the option to buy another 1.8 million shares to cover over-allotments.
The company has applied for a Nasdaq listing under the symbol "AHII" (AHII.O)
