Cinven today announces that it has successfully completed the sale of two million shares, representing approx. 9% of its stake, in Medpace Holdings Inc (‘Medpace’ or ‘the Group’), the leading global contract research organisation (CRO) at US$30.27 per share, to the company.
This is the first sale of shares by Cinven following an all-primary IPO on the Nasdaq Global Select Market in August 2016 with the share price representing a 32% increase over the IPO price at US$23 per share.
Following the offering, Cinven’s remaining stake in Medpace represents around 56% of the Group’s outstanding basic shares. The transaction is expected to close on or around 22 August 2017, subject to customary closing conditions.