WASHINGTON (dpa-AFX) - Healthpeak Properties, Inc. (DOC) and its unit Janus Living said on Monday that Janus Living has launched its initial public offering of 37 million Class A-1 shares.
The offering price is expected to be between $18 and $20 per share.
Janus Living plans to grant the underwriters a 30-day option to purchase up to an additional 5.5 million Class A-1 shares to cover overallotments, if any.
Janus Living intends to use the net proceeds from the offering for acquisitions and investment opportunities, as well as for general corporate purposes.
The company expects to list the shares on the New York Stock Exchange under the ticker 'JAN.'
Following completion of the IPO, Healthpeak will own about 214.73 million shares of Janus Living Class A-1 common stock and common units, representing roughly 85.3% economic interest in the company.
BofA Securities and J.P. Morgan are acting as lead book-running managers for the offering.
Healthpeak shares had closed at $16.98 on Friday, up 0.47%.
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