IMS Health Holdings Inc., a Danbury-based health care focused information technology company, publicly filed a registration statement related to a proposed initial public offering of its common stock this week.
The company, in a filing with the U.S. Securities and Exchange Commission, proposed raising as much as $1.37 billion in its initial public offering, valuing itself between $7 and $11 billion, according to reports.
Reports also indicate that IMS and existing shareholders are offering 65 million shares for $18 to $21 each based on a regulatory filing Monday.
IMS Health plans to use the net proceeds from the offering to repay parts of its existing long-term debt and the remaining proceeds for general business purposes.
J.P. Morgan Securities L.L.C., Goldman, Sachs & Co., and Morgan Stanley & Co. L.L.C. will serve as joint book-running managers and representatives of the underwriters for the offering. Bank of America Merrill Lynch, Barclays, Deutsche Bank Securities, and Wells Fargo Securities are also joint book-running managers for the offering, according to a press release.