IKang Healthcare Prices IPO Of 10.9 Mln ADDs At $14/ADS - Quick Facts

(RTTNews) - iKang Healthcare Group, Inc. (KANG) said it has priced its initial public offering of around 10.9 million American Depositary Shares or "ADSs" at $14 per ADS. The company's ADSs are likely to begin trading on NASDAQ on April 9, 2014 (US Eastern Time) under the ticker "KANG."

The IPO includes nearly 7.57 million ADSs offered by iKang, and 3.33 million ADSs offered by the selling shareholders. Further, the underwriters were granted a 30-day option to buy up to an additional 1.635 million ADSs, all of which would be from iKang.

Best Investment Corp., an unit of CIC International Co., Ltd., which in turn is a subsidiary controlled by China Investment Corp. would buy a certain number of Class A common shares from iKang at a per share price equal to the IPO price of iKang's ADSs divided by the number of common shares represented by each ADS, for a $40.0 million total price. Best investment Corp. has agreed for a lock-up for a period of 180 days from the date of the IPO prospectus.

Two ADSs represent one Class A common share. BofA Merrill Lynch and UBS Investment Bank are acting as the representatives of the underwriters for this offering. Oppenheimer & Co. Inc. is acting as the co-manager for this offering.