Buyout firms TPG Capital and Carlyle Group are targeting a $2.4 billion initial public offering of shares in Australia's Healthscope Ltd as their most-favoured option for the country's second-biggest private hospitals operator, a source with direct knowledge of plans told Reuters.Amid a banner year for Australian IPOs, stoked by Sydney's buoyant stock market, a listing of that size would be the country's third-largest ever, according to Thomson Reuters data. It would also underline the growing appeal of the sector a country where healthcare spending is growing over 8 percent annually, according to Healthscope.The firm's two 50-50 owners, who bought Healthscope in 2010 for A$1.99 billion ($1.73 billion at the time), are on a roadshow in Asia, the person said, lining up institutions who will commit to purchase shares in the IPO known as 'cornerstone' investors. Attaching cornerstone investors, designed to encourage others to also put their money in, is unusual for an Australian listing, but common in Asia.If successful, an IPO prospectus for Healthscope, which owns 44 private hospitals in Australia, would be filed by end-June or early July, said the person. The source could not be named as discussions on the listing are private.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.34% or $-0.12/share to $35.67. In the past year, the shares have traded as low as $31.38 and as high as $38.73. On average, 806955 shares of TRI exchange hands on a given day and today's volume is recorded at 790530.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.62% or $-0.24/share to $38.59. In the past year, the shares have traded as low as $33.08 and as high as $42.10. On average, 676389 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 351378.
Source
