Swiss dental startup vVardis Holding AG is seeking to raise as much as $228.6 million through an initial public offering in the U.S. The offering would add fresh capital for a company backed by Apollo Global Management Inc. and OrbiMed Advisors.
Highlights
- vVardis is offering 9.524 million shares at $21-$24 each, targeting up to $228.6 million in its U.S. IPO filing.
- Underwriters have an option to buy up to 1.43 million additional shares from founders Haley and Goly Abivardi, potentially enlarging the deal.
- With backing from Apollo Global Management Inc. and OrbiMed Advisors, vVardis aims to attract U.S. investors amid heightened healthcare IPO activity.
Offering terms and share sale structure
As reported by Bloomberg, citing the U.S. Securities and Exchange Commission filing, vVardis is offering 9.524 million shares at a price range of $21 to $24 each. Based on that range, the company is targeting proceeds of as much as $228.6 million from the share sale.The filing also shows that the company has granted underwriters an option to purchase and sell up to 1.43 million additional shares from founders Haley and Goly Abivardi in a potential over-allotment offering. That structure could increase the size of the deal if demand is strong.
Investor backing and market context
vVardis enters the IPO market with support from Apollo Global Management Inc. and OrbiMed Advisors, two investors with established profiles in finance and healthcare. Their backing may help position the Swiss company with U.S. investors as it seeks to expand its access to capital markets.The planned listing adds to the pipeline of healthcare and dental-sector offerings testing investor appetite for growth companies. For vVardis, the transaction would mark a significant financing step as it moves from startup backing toward the public market.
In our earlier article on India’s disinvestment programme, we examined how the government has raised most proceeds since FY2016 through market-based routes such as ETFs, public issues and buybacks, while strategic sales have contributed relatively little. We also highlighted how the planned IDBI Bank stake sale stands out in size versus past strategic disinvestment deals and why missing annual targets has been a recurring pattern without major transactions.
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