Healthscope CEO Robert Cooke Photo: Luis Ascui
Healthscope will provide a major windfall for chief executive Robert Cooke, who is set to earn up to $14.7 million in one off payments as a result of a successful listing.
The company lodged its prospectus on Monday morning, ahead of a two week offer to brokers and holders of Healthscope Notes that will run between July 8 and 22. Following the initial public offering, in which the company seeks to raise between $2.2 billion and $2.6 billion at a price of $1.79 to $2.29 a share, Healthscope will list on July 31.
Healthscope’s private equity owners TPG and The Carlyle Group will retain 32.5 per cent of Healthscope shares on offer following the IPO. Management and directors will hold 0.4 per cent.
According to the prospectus, Mr Cooke will acquire 1,473,825 shares in the offer, which will be worth $2.6 million to $3.4 million. Mr Cooke will also be granted performance rights with a value of $1.75 million as part of the company’s long term incentive plan.