The upcoming HCA Holdings Inc. (NYSE: HCA) IPO is turning out to be better than what we had expected. The 124 million shares have been expected to price between $27 and $30 per share and our data was indicating strong demand but a middle of the range pricing. It turns out those fears were unwarranted.
CNBC’s Kate Kelly just reported that HCA should now likely price at the top of the range, indicating a $30 per share price. This seems to be more market-sentiment driven than anything, although who knows how much is demand-driven in the final hours.
As a reminder, this will mark the third time that HCA has been public after private equity ownership.
HCA shares are expected to price tonight for trading on Thursday morning. It looks like the deal is coming in a little hotter than we had originally expected. Value is in the eye of the beholder.
JON C. OGG