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Jan 26 (Reuters) - Shares of BrightSpring Health Services BTSG.O, backed by KKR KKR.N, slipped 7.7% in their market debut on Friday, giving the community-based healthcare services firm a market capitalization of $2.05 billion.
The company debuted at $12 per share, below its initial public offering price of $13 apiece.
The company raised $633 million by selling about 53.3 million shares on Thursday.
BrightSpring was sold to private equity giant KKR in a $1.32-billion deal in 2019, with an affiliate of drugstore chain operator Walgreens Boots Alliance WBA.O taking a minority stake.
The company had previously pursued a listing in 2021, but hostile market conditions forced BrightSpring to abort its IPO plans in November 2022.
The lukewarm debut follows a similar reception for Morgan Stanley Direct Lending Fund MSDL.N and Kazakhstan-based banking and fintech giant Kaspi.kz KSPI.O, underscoring investor caution around new listings.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru. Editing by Pooja Desai and Shilpi Majumdar)