Select Medical Holdings Corp. (SEM) and Concentra Group Holdings Parent Inc. (CON), a wholly owned subsidiary of Select Medical, announced the pricing of Concentra's initial public offering of 22.50 million shares of Concentra's common stock at a price to the public of $23.50 per share.
In addition, Concentra has granted the underwriters a 30-day option to purchase up to an additional 3.38 million shares of its common stock to cover over-allotments, if any. Concentra's common stock has been approved for listing on the New York Stock Exchange under the symbol "CON" and is expected to begin trading on July 25, 2024.
The IPO is expected to close on July 26, 2024, subject to the satisfaction or waiver of customary closing conditions.
After the completion of the IPO, Select Medical will own about 104.09 million shares of Concentra's common stock, representing 82.23% of the total outstanding shares of Concentra's common stock or 80.09% if the underwriters exercise in full their over-allotment option.
J.P. Morgan, Goldman Sachs & Co. LLC and BofA Securities are acting as lead book-running managers for the IPO. Deutsche Bank Securities, Wells Fargo Securities, Mizuho, RBC Capital Markets and Truist Securities are acting as joint book-running managers for the IPO. Capital One Securities, Fifth Third Securities and PNC Capital Markets LLC are acting as co-managers for the IPO.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.