TPG-Backed Quintiles, Inc. (QTRN) Outlines $790 Million Price in IPO
4/26/2013 8:25:47 AM
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Quintiles Transnational Holdings Inc., the biggest provider of testing services to drugmakers, filed to raise about $790 million in a U.S. initial public offering. The company and its shareholders, including TPG Capital and Bain Capital LLC, are offering 19.7 million shares for $36 to $40 apiece, according to a regulatory filing today. That would be equal to about 15 percent of the shares outstanding. At the midpoint of the range, the market value for Quintiles would be about $4.9 billion, according to data compiled by Bloomberg. It joins companies including ING U.S. Inc. that are selling shares this year after U.S. stocks have risen to record levels and volatility in the market has subsided.
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