Quintiles said Wednesday that it has priced its initial public offering of about 23.58 million shares of its common stock at a price to the public of $40 per share, which is at the high end of the previously estimated range of $36 to $40 per share.
The shares of Quintiles common stock are expected to begin trading on the New York Stock Exchange under the single-letter symbol "Q" on May 9.
Quintiles is offering 13.125 million shares of common stock, and selling shareholders are offering about 10.56 million shares of common stock. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 3,552,631 shares of common stock.
The offering is expected to close on May 14.
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