The company plans to offer 179 million shares at $26 to $30 each. It has secured $2.35bn in cornerstone commitments from major global investors including Baillie Gifford, Capital Group, Janus Henderson, GIC, Viking Global Investors, Durable Capital Partners, and Morgan Stanley's Counterpoint Global. Members of the Mills family, Medline's founders, may acquire up to $250m of shares in the IPO. If priced at the top end, Medline's flotation would eclipse all US listings this year and represent one of the largest private equity realisations since the 2011 HCA Healthcare offering. It also surpasses the $1.75bn Venture Global IPO, currently the biggest US listing of 2025. Medline reported $977m in net income on $20.6bn in revenue for the nine months to September 27, up from $911m on $18.7bn a year earlier. The company expects tariff-related costs of $325m to $375m in fiscal 2025, and a further $150m to $200m in 2026. The Mills family founded Medline in 1966. The business was taken private...
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