29 April 2013 | News | By BioSpectrum Bureau
Quintiles IPO offers 19.7 million shares for $36-to-$40 per share
Singapore: Quintiles Transnational Holdings, which is the biggest provider of testing services to drugmakers, has filed for an initial public offering (IPO), seeking to raise $790 million in US.
The company and its shareholders, including TPG Capital and Bain Capital, are offering 19.7 million shares for $36-to-$40 per share, which is equal to about 15 percent of the shares outstanding.
At the midpoint of the range, the market value for Quintiles would be about $4.9 billion, according to data compiled by Bloomberg. The firm decided to sell its shares after its US stocks rose to substantial levels and volatility in the market subsided.