Life Healthcare cuts IPO range as markets fall

South Africa's Life Healthcare cut the price range forMoncler Polo shirt its initial public offering (IPO) to attract more investors after recent market weakness, marking a shaky start to what will be one the country's biggest IPOs. The company, which runs private hospitals across South Africa, said on Moncler JacketsThursday it had cut its IPO price range to 13.50 to 14.50 rand ($1.77-$1.90) from an initial 14.50 to 17.00 rand range given on May 18. The revised IPO could now raise up to Moncler Down Jackets5.6 billion rand ($732.9 million), including the over-allotment, about 30 percent less than the roughly $1 billion originally planned. A company spokeswoman confirmed the new number. "The published price range and deal structure has been revised to Moncler Vest Jacketsreflect volatile current market conditions," she said. Life Healthcare said it and shareholders had agreed the moncler downoffer would no longer be subject to a minimum subscription and sale of 41.39 percent of the issued share capital of the group. Analysts said volatile equity markets and a perception the initial price was toomoncler coats expensive could be behind the company's move. "They've had to cut the price to make it more attractive to moncler menpeople. 13.50-14.50 rand seems significantly more sensible than what they were asking but it's still not cheap even at these levels," said one analyst, who declined to be named. The company now plans to sell 354.42 million shares, 18 percent less than the 431.3 million it originally planned. It has also cut its over-allotment to moncler coat34.9 million shares frommoncler women 41.7 million. Management will retain a larger stake inmoncler vest the company after the listing, which was originally planned for June 8 and has now been moved back to June 10. "The market is not fantastic at the moment, so clearly you cannot ask top-dollar prices in a volatile equity market," the analyst said. The revised range and offer size will not have an impact on Life Healthcare's net cash position, the company said. Demand for private healthcare in South Africa has increased in recent years as a fast-growing middle class signs up for health insurance. It is expected to skyrocket as the country crafts a National Health Insurance scheme that would depend on the private healthcare sector. Another analyst, who also asked not to be named, said Life Healthcare may have decided to reduce the offer size to keep more of its ownership in South Africa. "The only thing that comes to mind is the fact that they are only in South Africa and maybe want to retain more of the ownership here," the analyst said.Air Max 180 TR+ Air Max 180+ Air Max Wright Air Max 360 Air Tuned Sirocco