Pharmaceutical services company PRA Health Sciences is expected to go public next week.
Earlier this week, The News & Observer incorrectly reported that shares of the Raleigh-based company were expected to be priced on Wednesday of this week and begin trading on Thursday. Actually, according to IPOscoop.com’s IPO calendar, it’s anticipated that PRA’s shares will be priced the evening of Wednesday, Nov. 12 and begin trading the following day.
IPOscoop.com’s timetable is based on information obtained from underwriters, whose schedules can change.
PRA is a contract research organization, or CRO, that helps pharmaceutical and biotechnology companies test experimental drugs and analyze the results.
The company is looking to sell 18.6 million shares of stock for between $20 and $23 each. It would use the proceeds to pay down its debt.
PRA has 10,300 employees worldwide, including more than 450 locally, and turned profitable in the third quarter.