Specialist health services firm offers mini discount

By Andrew Griffin
03 Apr 2014

Specialist health services firm Cambian is set to price its £300m IPO scheduled for April at a small discount to its US peers.

The 225p-290p range values the firm at £388m-£492m, post money. That valuation is between 9.2 times and 11 times 2015 Ebitda, with most comparable firms trading at 11 times or just above.

US peer Acadia Healthcare has been investors main comparable during investor education, said bankers. It trades ...

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