IMS Health, a PE-backed healthcare analytics company, expects to price its IPO between $18 and $21 per share. The company has reserved a spot on the NYSE under the IMS symbol.
The midpoint of the range would value the company at about $5.7 billion, a bit above the $5.2 billion it was taken private for in 2010. TPG, which owns a 62.2% pre-IPO stake, led the buyout that year and was joined by CPPIB (26.1%) and Leonard Green & Partners (10.7%). All three shareholders are paring down their stakes in the IPO. IMS also financed a pair of dividends to its shareholders in the past few years, including a $1.2 billion payout in October 2012.