IMS Health surges in 1st day of NYSE trading
NEW YORK (AP) — Shares of IMS Health are climbing during their debut on the New York Stock Exchange.
The stock rose $2.82, or 14.1 percent, to $22.82 in Friday morning trading.
IMS Health Holdings Inc., a provider of health care data and consulting services to drugmakers, payers and health care providers, priced the initial public offering of 65 million shares at $20 per share. That's within the projected range of $18 to $21 per share.
IMS raised $1.3 billion from the offering.
The Danbury, Conn., company is offering 52 million shares. Selling stockholders are offering 13 million shares. The company won't receive any proceeds from shares sold by the selling stockholders.
The stock is trading under the "IMS" ticker symbol.
The offering is targeted to close on Wednesday.
