Printer Friendly

HCA ANNOUNCES THE INITIAL PUBLIC OFFERING OF ITS COMMON STOCK PRICED AT $21.50 PER SHARE

 HCA ANNOUNCES THE INITIAL PUBLIC OFFERING OF
 ITS COMMON STOCK PRICED AT $21.50 PER SHARE
 NASHVILLE, Tenn., Feb. 26 /PRNewswire/ -- HCA - Hospital Corporation of America (HCA) announced today that an initial public offering of 34 million shares of its Class A Common Stock has been priced at $21.50 per share.
 Goldman, Sachs and Co. and its international affiliate are the lead managers of both the offering in the United States and Canada of 27.2 million shares and the concurrent international offering of 6.8 million shares, with Merrill Lynch and Co. and J.P. Morgan Securities Inc. and their respective international affiliates acting as co-managers for both offerings.
 All of the shares are being sold by HCA. HCA anticipates that it will receive approximately $694.5 million in aggregate net proceeds from these offerings. HCA intends to use the net proceeds from these offerings primarily to reduce existing indebtedness, including bank indebtedness and the redemption of its 15 3/4 percent Subordinated Discount Debentures due 2003.
 Prior to these offerings, there has been no public market for HCA's Common Stock. HCA's Common Stock will be traded on the New York Stock Exchange under the symbol "HCA."
 HCA has granted the underwriters an option for 30 days to purchase up to an additional 5.1 million shares solely to cover over-allotments. If the over-allotment option is exercised, the net proceeds will be used to reduce further HCA's bank indebtedness.
 A prospectus relating to the securities may be obtained from the U.S. offices of Goldman, Sachs and Co., 85 Broad St., New York, NY 10004.
 HCA is one of the leading hospital management companies in the United States. HCA and its affiliates own and operate more than 120 hospitals with over 22,500 beds.
 -0- 2/26/92 R
 /CONTACT: David McFadden, Corporate Relations, HCA, 615-327-9551, or 1-800-251-2561/
 (HCA) CO: HCA - Hospital Corporation of America ST: Tennessee IN: HEA SU: OFR


DF -- CH006 -- 3085 02/27/92 08:37 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 27, 1992
Words:332
Previous Article:LENNAR CORPORATION AND MORGAN STANLEY JOINTLY SELECTED BY RTC AS WINNING BIDDER IN AUCTION OF AMERIFIRST ASSETS
Next Article:ALBERT FISHER GROUP ANNOUNCES MANAGEMENT AND BOARD APPOINTMENTS
Topics:


Related Articles
HCA-HOSPITAL CORPORATION OF AMERICA ANNOUNCES SECOND QUARTER 1992 RESULTS
HCA - HOSPITAL CORPORATION OF AMERICA ANNOUNCES FOURTH QUARTER AND YEAR END 1992 RESULTS
COLUMBIA HEALTHCARE CORPORATION AND HCA - HOSPITAL CORPORATION OF AMERICA ANNOUNCE PLANNED MERGER
COLUMBIA HEALTHCARE CORPORATION AND HCA - HOSPITAL CORPORATION OF AMERICA ANNOUNCE PLANNED MERGER
HCA - HOSPITAL CORPORATION OF AMERICA ANNOUNCES THIRD QUARTER 1993 RESULTS
COLUMBIA/HCA MERGER COMPLETED ON FEBRUARY 10, 1994
MEDICAL CARE AMERICA STOCKHOLDERS APPROVE MERGER WITH COLUMBIA/HCA HEALTHCARE CORPORATION
COLUMBIA/HCA HEALTHCARE CORPORATION AND MEDICAL CARE AMERICA COMPLETE MERGER
Columbia Announces $1 Billion Stock Repurchase Program And Amendment Of Value Health Agreement To Provide For A $20.50 Per Share Cash Merger

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters