Ortho Clinical Diagnostics Holdings PLC, the Raritan-based in vitro diagnostics company, has announced the details of its initial public offering, which could be worth more than $1.6 billion.
Ortho said in a news release that it is offering 70 million ordinary shares at a price between $20 and $23 per share, producing a range of $1.4 billion to $1.61 billion if all shares are sold in range.
The stock would be listed on the Nasdaq Stock Market under the symbol “OCDX.”
Underwriters would have a 30-day option to purchase up to 10.5 million additional shares. It intends to use net proceeds from the IPO to pay down debt, for working capital and other purposes.