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
Headshot2 3182020512

Save On Cooling/Heating With Dual Zone HVAC Systems

Chris Jones - Green Dot Heating & Air
Burrus rob headshot 300x300

Covid-19 Pandemic: Implications For Managers And Human Resources

Robert Burrus - Cameron School of Business - UNC-Wilmington
Dallas headshot 300x300

Where Transferable Value Comes From

Dallas Romanowski - Cornerstone Business Advisors

Trending News

Analysts Say Successful IPO Could Bring Many Benefits To NCino

Jenny Callison - Jul 10, 2020

Opinion: The $2B Investment Decision

Rob Kaiser - Jul 10, 2020

County Commissioners Next In Line To Consider Novant Negotiation For Hospital

Cece Nunn - Jul 10, 2020

SBA Administrator: Businesses Should Take Advantage Of PPP Extension

Jenny Callison - Jul 10, 2020

In The Current Issue

Boom And Bust

Parts of the local and national economy seem to be thriving amidst ongoing restrictions aimed at slowing the spread of COVID-19, while other...


New Eateries Still Open Despite Virus

While some restaurants have gone out of business and others are still temporarily closed, others are expanding....


Businesses Continue To Adapt To Times

An update on how businesses that were part of the Working Through It series are still coping as a result of the coronavirus pandemic, starti...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`