Hospital giant HCA goes public ... again

The nation's largest non-governmental hospital operator has made an initial public offering of 126.2 million shares of common stock, which began trading on the New York Stock Exchange earlier this week.

The shares began trading $30 a share under the ticker symbol HCA. It closed up about $1 on its first day of trading Thursday.

HCA is offering 87.7 million shares, while shareholders are offering just under 38.5 million. The three investment banks underwriting the offering hold an option to purchase another 18.9 million shares from stockholders.

"HCA intends to use the net proceeds to temporarily reduce amounts under its asset-based revolving credit facility and its senior secured revolving credit facility," the firm said in a statement. The net proceeds of shares sold by shareholders will not go to the firm.

The Nashville-based HCA has shifted back and forth between privately and publicly-held ownership five times since its founding in 1968.

For more: 
- read the Healthcare Finance News article
- read the Reuters timeline

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