October 3, 2016 / 7:05 AM / 3 years ago

Medical products maker ConvaTec's London IPO to raise about $1.8 bln

Oct 3 (Reuters) - ConvaTec Ltd, a wound and ostomy care products maker, said an initial public offering of its shares on the London Stock Exchange is expected to raise about $1.8 billion.

ConvaTec, which was sold by Bristol-Myers Squibb Co to private-equity firms for $4.1 billion in 2008, did not say how many shares it would sell, or the expected price range. reut.rs/2cLERc8

The company said the offering would also allow for a partial realisation by private-equity firms Nordic Capital, Avista Capital Partners and members of the management team of their stake in ConvaTec.

ConvaTec, which has 230 active patent bunches and more than 2,000 patents and patent applications, reported revenue of $828.9 million in the six months ended June 30. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)

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