U.S. private equity giants TPG Capital and Carlyle Group aim to raise up to A$2.57 billion ($2.42 billion) by listing Australian hospital operator Healthscope Ltd, in what is shaping up as the country's third-largest initial public offering.The listing of the No. 2 Australian private hospital company continues the rush of takeover firms offloading assets onto the sharemarket as it trades near record levels. Australian IPOs have raised $4.8 billion in the first half of 2014, making the country the word's fifth-biggest IPO market, according to Thomson Reuters data.It also reinforces the dominance of health-related listings in a country where services are heavily government-subsidised and demand is growing along with a rapidly ageing population. If state-owned health insurer Medibank Private lists this year for about A$4 billion as planned, the country's first, second and fourth-largest listings of 2014 will be in healthcare.For the U.S. vendors, the listing represents a near doubling of an investment for which they paid A$1.99 billion in 2010. Healthscope will have a market capitalisation of up to A$3.81 billion if the vendors, which are keeping one-third, sell the maximum number of shares for their top asking price.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.72% or $0.26/share to $36.32. In the past year, the shares have traded as low as $32.36 and as high as $38.73. On average, 801595 shares of TRI exchange hands on a given day and today's volume is recorded at 1498216.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.41% or $0.16/share to $38.73. In the past year, the shares have traded as low as $33.70 and as high as $42.10. On average, 624775 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 360831.
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