Healthscope Climbs on Sydney Debut After $2.1 Billion IPO

Jul 28, 2014 2:29 am ET

(Updates with closing stock price in second paragraph.)

July 28 (Bloomberg) -- Healthscope Ltd. climbed on its debut in Sydney trading after the private hospital operator and its private equity owners raised A$2.25 billion ($2.1 billion) in an initial public offering.

The stock rose 5.2 percent to A$2.21 at the close, valuing Healthscope at A$3.83 billion. The shares were sold to investors last week for A$2.10 each, above the midpoint of a marketed range.

The IPO was Australia’s biggest first-time share sale since October 2010, when rail operator Aurizon Holdings Ltd. raised A$4.3 billion, according to data compiled by Bloomberg. Buyout firms TPG Capital and Carlyle Group LP had bought the company in 2010.

Healthscope operates 44 hospitals including the Prince of Wales Private Hospital in Sydney and Melbourne Private Hospital, according to its website. It also runs pathology centers in Australia, New Zealand and Asia.

Macquarie Group Ltd. and UBS AG were global coordinators of the IPO, while Bank of America Corp., CIMB Group Holdings Bhd., Credit Suisse Group AG and Goldman Sachs Group Inc. were joint lead managers.