By Colin Kellaher
Apria Inc. on Wednesday said its initial public offering will include 7.5 million shares priced at between $19 and $21 apiece.
The Indianapolis provider of home healthcare equipment majority-owned by Blackstone Group Inc. isn't selling any shares in the IPO.
Instead, the shares will be sold by Blackstone, which took Apria private in 2008 in a $1.6 billion deal. Blackstone will still hold a roughly 68.8% stake in Apria after the IPO, assuming the underwriters exercise an option to buy an additional 1.13 million shares.
Apria said it would have about 38.2 million shares outstanding after the offering, for a market capitalization of roughly $704 million at the $20-a-share midpoint of the expected pricing range.
Apria said it plans to list its shares on the Nasdaq Global Select Market under the symbol APR.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 03, 2021 07:13 ET (12:13 GMT)
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