Life Healthcare IPO cut 30%

03 Jun 2010

Life Healthcare, the South African hospital owner, has cut the size of its IPO by 30% on the last day of bookbuilding after weak demand for the offer, which was set to become the largest ever listing in Johannesburg.

Life will now raise only R5.6bn ($727m) if priced at the top of the range and including the greenshoe, down from the R8bn ($1bn) target after it reduced the number of shares on offer and cut the price range. Credit Suisse, Morgan Stanley and Rand Merchant Bank are ...

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