Quintiles Set for IPO

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The largest service provider of testing services to pharmaceutical companies, Quintiles Transnational Holdings is expecting to price its shares between US$36 and US$40 for its public listing. The initial public offer's volume was pegged at 19.7 million shares, with the company offering 13.8 million shares and current shareholders providing the remaining shares to complete the volume.

At the midpoint price of the IPO, the company would be able to raise US$748.6 million. This is the conservative forecast for the pricing of the shares of stock. The common stock listing at the New York Stock Exchange would be under the symbol 'Q'.

Quintiles is backed by a consortium of private equity firms such as Bain Capital LLC and TPG Capital LP. The proceeds from the IPO would be used to repay term loans and other operational expenses.

The underwriters for the initial public offer for the Durham, NC based firm are Morgan Stanley, Barclays and J.P. Morgan Chase & Co.

Tags
IPO, Shares

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