Change Healthcare Inc. Prices IPO at $13 a Share

Date : 06/27/2019 @ 1:11AM
Source : Dow Jones News
Stock : Mckesson Corp. (MCK)
Quote : 138.9  -0.78 (-0.56%) @ 12:59AM

Change Healthcare Inc. Prices IPO at $13 a Share

Mckesson (NYSE:MCK)
Historical Stock Chart

1 Month : From Jun 2019 to Jul 2019

Click Here for more Mckesson Charts.

By Patrick Thomas

 

Change Healthcare Inc. said Wednesday its pricing its initial public offering of 42.9 million shares at $13 a share, below its previously stated range of $16 to $19 a share.

The Nashville-based company is a healthcare technology company indirectly controlled by McKesson Corp. The company is expected to begin trading on the Nasdaq global select market on Thursday under the symbol CHNG.

After deducting estimated underwriting discounts and commissions, the company said it expects to generate $709 million in proceeds, or $815 million if the underwriters exercise in full their option to buy additional shares of common stock, the company said in a securities filing earlier this month.

The company said it plans to use the proceeds from the offering to repay a portion of its debt under its senior secured term loan facility.

For the year that ended March 31, the company generated a profit of $176.7 million and revenue of $3.28 billion.

Change Healthcare's network, which includes physicians, pharmacies and hospitals, handles clinical-records transactions for more than 112 million patients, the company said.

 

Write to Patrick Thomas at patrick.thomas@wsj.com

 

(END) Dow Jones Newswires

June 26, 2019 19:56 ET (23:56 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest MCK Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.