Healthscope chief executive Robert Cooke. Photo: Luis Ascui
Healthscope chief executive Robert Cooke has persuaded local and foreign investors to back the company’s $3.6 billion float, with shares in Australia’s biggest initial public offering in four years set to start trading on Monday.
The Melbourne-based company on Friday said it had completed a book-build among institutional investors and confirmed an offer price of $2.10. It will begin trading at midday on Monday under the stock code HSO, and will be the biggest float since the $4.6 billion privatisation of rail freight business QR National, now known as Aurizon, in 2010.
Mr Cooke said his greatest contribution to the turnaround of the private hospital, medical centre and pathology operator had been an ability to balance an improvement in patient care with a financial benefit.
That pitch, along with a $436 million capital expenditure program to expand the company’s 44 private hospitals, and an ageing population that is spending more than ever on medical care, persuaded investors to support the $2.25 billion raise.