Print
Health Care

PPD Files Notice For Proposed IPO

By Vicky Janowski, posted Nov 13, 2019
PPD's worldwide headquarters building is located in downtown Wilmington. (Photo by Cece Nunn)
Wilmington-based PPD has announced its interest in once again becoming a public company.
 
Pharmaceutical Product Development LLC this week announced that PPD Inc., its parent company, has submitted a draft registration statement to the Securities and Exchange Commission about the proposed initial public offering of PPD’s common stock.
 
“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” a statement Tuesday from the company read. “PPD, Inc. expects to use the proceeds of the offering for general corporate purposes, which may include the repayment of indebtedness.”
 
The announcement stated that the IPO “is expected to commence after the SEC completes its review process, subject to market and other conditions.”
 
PPD, a contract research organization, was founded in Wilmington by Fred Eshelman in the mid-1980s.
 
The company went public in 1996 and was later sold to affiliates of investment firms The Carlyle Group and Hellman & Friedman in 2011 for $3.9 billion, returning then to operate as a private company.
 
In 2017, PPD announced a deal to recapitalize and add two new investors.
 
The investment with a subsidiary of the Abu Dhabi Investment Authority (ADIA) and an affiliate of GIC, Singapore’s sovereign wealth fund valued PPD at the time at more than $9 billion.
 
The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Dallas headshot 300x300

If You Love What You Do, Why Should You Make Plans To Leave?

Dallas Romanowski - Cornerstone Business Advisors
Alexandra

Holidays And Homework

Alexandra Lysik - Cavik Insurance
Lyleheadshot2017 1251720228

The Key To Fundraising Success

JC Lyle - Wilmington Area Rebuilding Ministry

Trending News

White, Olson-Boseman Talk Hospital, Unlikely Partnership At Power Breakfast

Cece Nunn - Dec 12, 2019

Local United Way CEO Retires

Cece Nunn - Dec 11, 2019

With New Record, ILM Eyes 1M Passengers For 2019

Christina Haley O'Neal - Dec 11, 2019

In RiverLights, Firm Buys Land For 250 Apartments

Cece Nunn - Dec 12, 2019

Midtown Center Welcomes New Tenants, Revamped Store

Cece Nunn - Dec 13, 2019

In The Current Issue

A Wave Of Woes

While recent projects mark major milestones for the Cape Fear Public Transportation Authority, which does business as Wave Transit, the agen...


First Carolina Bank Hires Cameron, Preps For Branch

The next six months will be busy ones for First Carolina Bank, as the Rocky Mount-based financial institution prepares to open a full-servic...


Retiree Volunteers: 'We're Just Not Done Yet'

More than 6 out of 10 adults age 55 and older engage in some volunteer activity in the U.S. The sizeable number of volunteering retirees can...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`