Envista—the dental business spinoff of Danaher—will go public on Wednesday, September 19, with a $600 million initial public offering (IPO). The company, which includes the Ormco, KaVo Kerr, and Nobel Biocare dental brands, plans to float 26.8 shares at $21 to $24 each, a range of $562.1 million to $642.4 million.
The company’s stock will trade on the New York Stock Exchange under the NVST symbol.
Danaher announced the spin off of its dental business in June. Amir Aghdaei will be Envista’s president and chief executive officer.
According to a press release from the company, following the IPO, Danaher expects to hold approximately 82.7% of Envista. The net proceeds from the IPO are expected to be paid to Danaher as partial consideration for the dental businesses that Danaher is transferring to Envista in connection with the IPO.
Nasdaq labeled the Envista IPO the “largest IPO this week.”
