Select Medical Corp., Mechanicsburg, Pa., notified the federal Securities and Exchange Commission that it plans to have an initial public offering of common stock.
The document, however, gives little indication of how much stock will be offered and how much income the company expects from the sale. The spaces where such information should be given are mostly left blank, except in one area where it lists $100 million as the proposed maximum aggregate offering price. A footnote, however, notes that this figure is an estimate made solely for the purpose of calculating the registration fee.
The document does indicate that the IPO will be held sometime in 2008 and that the company intends to be listed on the New York Stock Exchange as SLC. It also indicates that there are about 250 million existing shares of Select Medical stock.
The document notes that, as of March 31, the company operated 88 long-term acute-care clinics, four inpatient rehabilitation facilities, and 985 outpatient rehabilitation clinics. Carolyn Curnane, Select Medical vice president of corporate communications, said that those figures were accurate, but did not provide any additional information on the IPO.
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