April 4 Shares of TPG Capital Management-backed
IMS Health Holdings Inc rose as much as 14 percent in
their trading debut, valuing the healthcare information company
at up to $7.55 billion.
IMS Health's IPO raised about $1.30 billion after the
offering was priced at $20 per share, above the midpoint of its
expected price range of $18-$21 per share.
The IPO marks the second-biggest U.S. offering so far this
year, after Santander Consumer USA Holdings Inc, the
auto-finance unit of Spanish bank Santander, raised
$1.8 billion in January.
Of the 65 million shares offered, the Connecticut-based
company sold 52 million, while the rest were sold by selling
IMS Health's shares opened at $22.18 and touched a high of
$22.75 on the New York Stock Exchange on Friday.
IMS provides prescription data to drugmakers, medical device
companies, government agencies and policymakers and also
publishes analytical reports on the global healthcare industry.
The company was taken private in 2010 by TPG Capital, Canada
Pension Plan Investment Board and Leonard Green & Partners LP
for $5.2 billion, including debt.
JPMorgan Chase, Goldman Sachs and Morgan Stanley were lead
underwriters to the offering.
(Reporting By Neha Dimri in Bangalore; Editing by Maju Samuel)