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VWR prices IPO below indicated price range-source
October 1, 2014 / 9:49 PM / 3 years ago

VWR prices IPO below indicated price range-source

NEW YORK, Oct 1 (Reuters) - VWR Corp, a provider of laboratory supplies and services, priced its initial public offering at $21 per share, lower than the price range it had previously indicated, raising $536 million, a bookrunning source said on Wednesday.

VWR, backed by private equity firm Madison Dearborn Partners LLC, had said last month it expected its common stock to be priced between $22 and $25 per share. The IPO now values the company on pro forma basis at about $5 billion, including debt.

VWR sells laboratory products such as chemicals, reagents, consumables, durable products and scientific instruments to more than 120,000 customers, primarily in North America and Europe.

BofA Merrill Lynch, Goldman Sachs & Co and J.P. Morgan are the lead underwriters to the IPO.

Reporting by Greg Roumeliotis in New York; Editing by Chris Reese

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