BUZZ-Medline jumps after medical supplies firm's $6-bln-plus IPO

Reuters12-18

BUZZ-Medline jumps after medical supplies firm's $6-bln-plus IPO

** Shares of medical supply firm Medline MDLN.O jump up more than 20% in debut on Weds after co raised more than $6 bln in 2025's biggest IPO

** MDLN opens at $35 vs $29 IPO price, giving co around $46 bln valuation. Stock recently up 28.4% at $37.25

** Northfield, Illinois-based MDLN late Tues announced selling about 216 mln shares, above its plans to offer 179 mln shares, at upper end of $26-$30 range for deal size of about $6.3 bln

** It intends to use net proceeds from issuance of 179 mln shares to repay debt under its term loan facilities and for general purposes, and use proceeds from issuance of roughly 37 mln shares to purchase additional shares of Class A common stock or redeem an equivalent number of outstanding equity interests from certain of its pre-IPO owners, per the statement

** In 2021, a consortium of private equity firms comprising Blackstone BX.N, Carlyle CG.O and Hellman & Friedman bought MDLN in a $34 bln deal

** The IPO market staged a strong comeback in 2025 after a three-year lull despite market volatility in April, fueled by President Donald Trump's sweeping tariffs, and the longest-ever government shutdown that temporarily derailed activity

** Goldman Sachs, Morgan Stanley, BofA, and JP Morgan leading more than 40-firm underwriting syndicate for MDLN's IPO (click here for the offering prospectus)

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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