Medical Device Maker PHC Plans Biggest Japan IPO Since 2018
- PHC, holders could raise up to $1.6 billion from share sale
- Sellers in the offering include KKR, Panasonic and Mitsui
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Japanese medical device maker PHC Holdings Corp. and its shareholders are looking to raise as much as 172 billion yen ($1.6 billion) in a Tokyo initial public offering that would be country’s biggest in almost three years.
The sale will comprise about 46.5 million shares, of which 5.8 million will be new and 40.7 million will come from existing shareholders including private equity firm KKR & Co., according to terms of the deal seen by Bloomberg News. An indicative IPO price has been set at 3,700 yen per share, though the final one will be decided on Oct. 6, the terms show.