Pfizer Inc’s (PFE: Quote) animal health unit Zoetis Inc. plans to raise $2 billion through IPO by offering 86.1 million shares at a price range of $22.00 to $25.00 per share. The Company will list on the New York Stock Exchange under the ticker “ZTS”.
The company also added 16 underwriters to the offering, including Goldman Sachs, Barclays, Citigroup and Credit Suisse. J.P. Morgan, BofA Merrill Lynch and Morgan Stanley are the joint bookrunners on the deal.
The IPO will price on January 31 and will begin trading on February 1, according to regulatory filings.
Juan Ramon Alaix, the current president of Pfizer’s animal health unit, will be the CEO of Zoetis when it goes public.
Zoetis reported $482 million in adjusted net income over the first nine months of 2012, up 27 percent over the same period last year.
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by RTT Staff Writer
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