Though expected to price on Wednesday, Vanguard Health Systems accelerated its initial public offering, going public on the New York Stock Exchange on June 21, 2011. The hospital operator now trades under the symbol VHS.
Here is what you need to know about the deal:
1. Capital raised: though VHS sought to raise as much as $550 mn in its IPO, the end result was $450 mn, 22 per cent below expectations.
2. Pricing: the company priced its shares at $18, according to Bloomberg, not within the $21 to $23 range originally expected.
3. Shares: 25 mn shares were floated in the IPO.
5. The exit: Blackstone owned approximately two-thirds of VHS before the IPO. Current investors continue to hold a majority of voting rights.
Business Insider Emails & Alerts
Site highlights each day to your inbox.