Concord Medical Services Holdings, a major operator of radiotherapy and diagnostic imaging centers in China, announced terms for its IPO on Friday. The Beijing-based company plans to raise $120 million by offering 12 million American Depository Shares at a price range of $9.00 to $11.00. At the mid-point of the proposed range, Concord Medical Services Holdings will command a market value of $491.5 million. Concord Medical, which was founded in 2007 and booked $36 million in sales over the last 12 months, plans to list on the NYSE under the symbol CCM. Morgan Stanley, J.P. Morgan, and CICC are the lead underwriters on the deal, for which timing was not disclosed.
