PPD Inc.'s IPO is expected to take place Thursday, according to Nasdaq's calendar.

The Wilmington-based contract research organization plans to offer 60 million shares of its common stock at a price point proposed between $24 and $27 per share, according to its filing with the U.S. Securities and Exchange Commission (SEC). The company aims to raise up to $1.86 billion in the offering including another 9 million shares that the underwriters have the option to purchase.

PPD officials did not return requests for comment Wednesday.

PPD officals annouced last week that the company "intends to use the net proceeds from the offering, together with cash on hand, to redeem in full its 7.625%/8.375% Senior PIK Toggle Notes due 2022 and 7.75%/8.50% Senior PIK Toggle Notes due 2022, in each case, plus redemption premium and accrued and unpaid interest thereon, and any remainder for general corporate purposes."

The offering is being made through an underwriting group led by Barclays, J.P. Morgan, Morgan Stanley and Goldman Sachs & Co. LLC, who are acting as lead bookrunning managers; BofA Securities, Credit Suisse, Jefferies, UBS Investment Bank, Citigroup, Deutsche Bank Securities, Evercore ISI, HSBC and Mizuho Securities, who are acting as joint bookrunning managers; and Baird, William Blair and Drexel Hamilton, who are acting as co-managers, stated the release.

The firm also said it expected to grant the underwriting group a 30-day option to purchase up to an additional 9 million shares of its stock at the IPO price less the underwriting discounts and commissions.

PPD has offices in 46 countries and about 23,000 employees worldwide, with about 1,500 people in Wilmington.