iKang Healthcare Group, China's largest privately held medical center operator, announced terms for its IPO on Tuesday. The Beijing, China-based company plans to raise $142 million by offering 10.9 million American Depositary Shares (31% insider) at a price range of $12 to $14. At the midpoint of the proposed range, iKang Healthcare Group would command a fully diluted market value of $880 million.
iKang Healthcare Group, which was founded in 2004 and booked $191 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol KANG. It initially filed confidentially on December 4, 2013. BofA Merrill Lynch and UBS Investment Bank are the joint bookrunners on the deal.
