Australia’s Healthscope IPO seeks to raise USD2.41 billion

Australia’s healthcare operator Healthscope is planning to raise up to A$2.57 billion (US$2.41 billion) in one of the largest initial public offerings out of the country. Healthscope and its existing shareholders plan to sell 1.2 billion-1.28 billion shares at A$1.76- A$2.29 each, according to its IPO prospectus.

Gita Dhungana 30 Jun 2014

Australia's healthcare operator Healthscope is planning to raise up to A$2.57 billion (US$2.41 billion) in one of the largest initial public offerings out of the country.

Healthscope and its existing shareholders plan to sell 1.2 billion-1.28 billion shares at A$1.76- A$2.29 each, according to its IPO prospectus.

The IPO will mark the return of Healthscope in the public market after it was acquired in 2010 by a consortium of funds advised and managed by private equity firms TPG Capital and Carlyle Group.

CT Healthscope Holdings, owned by TPG Capital and Carlyle Group, will hold at least 25%-40% of the issued share capital after the completion of the offering.

The IPO will bring the market capitalization of the company between A$3.33 billion-A$3.81 billion. The bookbuild will open on July 23 2014 and is expected to close on July 24 2014.

Healthscope is Australia's second largest private hospital operator.

Macquarie Capital and UBS are acting as the joint global coordinators as well as joint lead managers together with Bank of America Merrill Lynch, CIMB, Credit Suisse and Goldman Sachs.

Conversation