Feb 15 (Reuters) - Quintiles Transnational Holdings Inc, thelargest provider of testing services to drugmakers, filed withU.S. regulators on Friday to raise up to $600 million in aninitial public offering of common stock.
The company, backed by private equity investors that includeBain Capital LLC and TPG Capital LP, did not reveal how manyshares it planned to sell or their expected price.
Quintiles, which runs drug trials for pharmaceuticalcompanies, has an equity value of $2.77 billion as of March 2012when Britain's 3i Group Plc valued its 4.9 percent stakein the firm at 86 million pounds ($133.5 million).
3i and Singapore's Temasek Life Sciences Private Ltd areminority shareholders in Quintiles.
Morgan Stanley, Barclays and J.P. Morgan Chase & Co would bethe lead underwriters for the IPO.
Net proceeds from the IPO will be used to repay term loan,Quintiles said in the filing.
The Durham, North Carolina-based company did not reveal theexchange in which it wishes to list or its symbol.
The offering comes five years after Bain and TPG became leadinvestors in Quintiles in January 2008.
The company reported net income of $177.5 million on revenueof $4.86 billion in 2012.
The amount of money a company says it plans to raise in itsfirst IPO filings is used to calculate registration fees. Thefinal size of the IPO could be different.
Barclays (BARC)
3i Group (III)
