Medline shares surge 23.21% intraday after year's largest IPO raises $6.26 billion, valuing company at $39 billion.

Wednesday, Dec 17, 2025 1:13 pm ET1min read
Medline surged 23.21% intraday after completing the year’s largest IPO, raising $6.26 billion at $29 per share. The offering, upsized to 216 million shares, valued the medical supply giant at $39 billion, with shares opening 16% above the IPO price. Strong institutional demand and a $4 billion debt-reduction plan underpinned investor optimism. The IPO marked Medline’s public debut following a 2021 private equity buyout by Blackstone, Carlyle, and Hellman & Friedman, signaling confidence in its resilient supply chain and 95% U.S. next-day delivery capability. Market participants viewed the listing as a positive catalyst for 2026, with expectations of high-profile IPOs like SpaceX. The rally reflected enthusiasm for Medline’s scale, operational efficiency, and strategic deleveraging, despite near-term tariff risks.

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