IMS Health seeks valuation of up to $6.97 bln in IPO – Reuters

(Reuters) – IMS Health Holdings Inc said it expected to price its initial public offering at US$18-US$21 per share, valuing the healthcare information company at up to US$6.97 billion.

The company said the sale of 65 million shares was expected to raise about US$1.36 billion, based on the top end of the price range.

IMS said it would sell 52 million shares in the offering, with the rest being offered by shareholders.

The company provides prescription data to medical device makers, government agencies and other companies in the healthcare industry.

IMS had total debt of US$4.96 billion as of December 31, according to the IPO filing.

The company was taken private in 2010 by TPG Capital LP, Canada Pension Plan Investment Board and Leonard Green & Partners LP for US$5.2 billion, including debt.

JPMorgan Chase, Goldman Sachs and Morgan Stanley are the lead underwriters for the offering, IMS said.

Danbury, Connecticut-based IMS said it expected to list its common stock on the New York Stock Exchange under the symbol “IMS.”

(Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey)

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