Pfizer's animal health unit Zoetis sets terms for $2 billion IPO

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Zoetis, a lead developer of animal health medicines and vaccines, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $2 billion by offering 86.1 million shares at a price range of $22.00 to $25.00. At the midpoint of the proposed range, Zoetis would command a fully diluted market value of $11.8 billion. Zoetis, which was founded in 2012 and booked $4.3 billion in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol ZTS. J.P. Morgan, BofA Merrill Lynch and Morgan Stanley are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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