ConvaTec is reportedly seeking investment banks to hire underwriters for an initial public offering that could raise more than $1 billion.
The Luxembourg-based medical device company, which makes products for wound care, ostomy care and infusion, is owned by private equity firms Avista Capital Partners and Nordic Capital.
Citing “people familiar with the matter,” Reuters reported that ConvaTec hopes to list on the London Stock Exchange by the end of the year.
ConvaTec posted adjusted earnings of about $475 million on sales of roughly $1.6 billion last year; net losses were more than $200 million.
In late 2014, reports surfaced that ConvaTec had appointed Morgan Stanley and Goldman Sachs to explore a sale of the company that could be worth as much as $10 billion.
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