HCA's upcoming initial public offering could be the largest private-equity backed IPO on record, according to a Bloomberg Businessweek report.
HCA, which is backed by KKR & Co., Bain Capital and Bank of America, is scheduled for IPO pricing on March 9. It is expected to seek between $27 and $30 per share.
HCA initially filed to go public last May, a time when IPOs were coming in under expectations. Instead of moving forward, the owners instead entered the company into a dividend recapitalization, taking on more debt to pay themselves a $2 billion dividend. If HCA has timed its IPO right this time, its owners could triple their investment, according to the report.
"Private-equity buyers have timed capital markets perfectly on this deal," said J. Andrew Cowherd, managing director in the healthcare group of investment bank Peter J. Solomon Co., said in the report.
Read the Bloomberg Businessweek report on HCA.
Read more coverage on HCA:
- HCA to Seek Up to $30 a Share in IPO
- HCA Holdings Schedules Multibillion-Dollar IPO Pricing for March 9
- HCA Saw $30.7B in Revenue in 2010, Still Has $28B in Total Debt
HCA, which is backed by KKR & Co., Bain Capital and Bank of America, is scheduled for IPO pricing on March 9. It is expected to seek between $27 and $30 per share.
HCA initially filed to go public last May, a time when IPOs were coming in under expectations. Instead of moving forward, the owners instead entered the company into a dividend recapitalization, taking on more debt to pay themselves a $2 billion dividend. If HCA has timed its IPO right this time, its owners could triple their investment, according to the report.
"Private-equity buyers have timed capital markets perfectly on this deal," said J. Andrew Cowherd, managing director in the healthcare group of investment bank Peter J. Solomon Co., said in the report.
Read the Bloomberg Businessweek report on HCA.
Read more coverage on HCA:
- HCA to Seek Up to $30 a Share in IPO
- HCA Holdings Schedules Multibillion-Dollar IPO Pricing for March 9
- HCA Saw $30.7B in Revenue in 2010, Still Has $28B in Total Debt