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Australia’s Healthscope plans to raise up to $2.41bn via IPO

30 Jun 2014

australiaPrivate equity-backed Australian private hospitals operator Healthscope announced that it is planning to raise up to A$2.57bn ($2.41m) via an IPO.

Healthscope said it will sell between 1.12bn and 1.28bn shares priced at A$1.76 and A$2.29 per share.

The company’s private equity backers TPG Capital and Carlyle Group will retain 25 to 40 per cent following the IPO.

TPG and Carlyle considered an outright sale, a spin-off of the company’s property assets via a trust and an IPO and have yet to make a final decision, said the source.

Healthscope is currently valued at A$4bn including debt and is expected to have a market cap of A$4.5bn to A$5bn.

The firms bought the business for A$1.9bn in 2010 and currently own 50 per cent each.

It has also been reported that China’s Fosun Group was interested in buying Healthscopeand that IHH Healthcare was considering a A$5bn bid for the company.

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