Deals
ConvaTec to Raise $1.8 Billion in London Initial Offering
- Shareholders include Nordic Capital, Avista Capital Partners
- Medical products maker had $1.65 billion in 2015 sales
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ConvaTec Ltd., a medical technology company whose shareholders include Nordic Capital and Avista Capital Partners, said it plans to raise $1.8 billion in London’s biggest initial public offering this year.
The proposed sale of at least 25 percent of ConvaTec’s shares would value the Reading, England-based company at about $7.2 billion. The proceeds would be used to pay down debt and enable existing investors to sell their stock, ConvaTec said Monday in a statement. The shares would trade on the London Stock Exchange starting in late October or early November.