Virtus Health Pty Ltd is planning to sell shares through an initial public offering to raise an estimated Aus$291.5 million or US$298 million according to its presentation documentation.
Virtus is the largest provider for fertility services in Australia and is partly owned by Quadrant Private Equity Pty Ltd. According to the same documents obtained by Bloomberg, investors would be selling shares of stock between Aus$4.92 and Aus$5.68 per share.
A spokeswoman for Virtus declined to make any comment on the details of the transaction.
The shares would be made available for trading by June 14 and part of the proceeds would be used to pay for the firm's debt. When the sale is completed, the company would have obtained as much as Aus$449.4 million in market capitalization. This makes the firm the largest company to commence trading on the Australian Stock Exchange since October 2012.
The company operates 33 fertility clinic located in Victoria, Queensland and New South Wales. It provided 35% of the IVF treatment cycles performed last year in all of Australia.
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