Quintiles Transnational Holdings Inc, the largest provider of testing services to drugmakers, filed with U.S. regulators on Friday to raise up to $600 million in an initial public offering of common stock. The company, backed by private equity investors that include Bain Capital LLC and TPG Capital LP, did not reveal how many shares it planned to sell or their expected price. Quintiles, which runs drug trials for pharmaceutical companies, has an equity value of $2.77 billion as of March 2012 when Britain’s 3i Group Plc valued its 4.9 percent stake in the firm at 86 million pounds ($133.5 million). 3i and Singapore’s Temasek Life Sciences Private Ltd are minority shareholders in Quintiles. Morgan Stanley, Barclays and J.P. Morgan Chase & Co would be the lead underwriters for the IPO. Net proceeds from the IPO will be used to repay term loan, Quintiles said in the filing.
