Medica IPO set at cut price

BC Partners-backed care home specialist Medica is set to raise EUR 275m IPO on Paris Euronext at revised price of EUR 13 per share, down form the EUR 16-19.5 range originally indicated following a drop in the markets. The over-allotment option remains at 15%.

Meanwhile, Predica, an insurance division of Crédit Agricole, has reaffirmed its commitment to purchasing a EUR 40m stake in the company at the new share Price.
Credit Suisse, Royal Bank of Scotland and BNP Paribas, the bookrunners, have closed the deal at 1600 Monday (GMT).