Mar 22, 2024
Health Chain Auna Raises $360 Million in IPO Priced Below Range
, Bloomberg News
(Bloomberg) -- Auna SA, a health-care services provider with operations across Latin America, raised $360 million in its US initial public offering after pricing shares below a marketed range.
The operator of hospitals and clinics in Mexico, Peru and Colombia sold 30 million shares at $12 each, according to a statement on Thursday. Auna had marketed the shares at $13 to $15 apiece, according to filings with the US Securities and Exchange Commission.
Auna’s listing comes after Mexican discount retailer BBB Foods Inc.’s shares are up about 30% since its $677 million IPO in February. It also joins a flurry of first-time share sales in the US this week, including social media platform operator Reddit Inc.’s debut after the company and its shareholders raised $748 million, and semiconductor connectivity firm Astera Labs Inc. whose IPO raised $713 million.
Auna, which had already tried to tap equity markets more than three years ago, was founded in Peru in 1989 and re-domiciled to Luxembourg last year. In addition to its hospitals and clinics in the region, it provides health-care plans in Peru and dental and vision plans in Mexico, its filings show.
The company is controlled by Enfoca, a Peruvian investment firm that will own about 73% of the company after the offering. The company is reserving 5% of the available shares for employees and other individuals associated with the firm. AFP Integra SA, a Peruvian pension fund manager, has agreed to purchase as much as $100 million worth of Auna shares in the offering, its filings show.
Auna reported a net loss of about 214.3 million Peruvian sol ($58 million) in 2023, its filings show. That loss has increased from 76.8 million sol in the year before. Auna had 914.2 million sol in revenue last year, up 28% from 716 million sol in 2022.
Morgan Stanley, JPMorgan Chase & Co., Banco BTG Pactual SA and Banco Santander SA are leading the offering. The company is set to debut on the New York Stock Exchange on Friday under the symbol AUNA.
--With assistance from Vinícius Andrade.
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