Reported Earlier, Select Medical Prices Subsidiary Concentra Group Initial Public Offering Of 22.5M Common Shares At $23.50/Share
Portfolio Pulse from Benzinga Newsdesk
Select Medical's subsidiary, Concentra Group, is launching an IPO of 22.5 million common shares at $23.50 per share. Concentra's stock will trade on the NYSE under the symbol 'CON' starting July 25, 2024. Select Medical will retain a majority stake post-IPO.
July 25, 2024 | 7:11 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Concentra Group is launching an IPO of 22.5 million shares at $23.50 each, with trading to begin on July 25, 2024, on the NYSE under the symbol 'CON'.
The IPO is a significant event for Concentra, marking its entry into the public market. The initial pricing and trading commencement are likely to generate investor interest and impact the stock price positively in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Select Medical will retain a majority stake in Concentra Group post-IPO, owning 82.23% of the total outstanding shares.
Select Medical's majority ownership in Concentra post-IPO indicates continued control and potential benefits from Concentra's public market performance, likely leading to a positive short-term impact on SEM's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80