July 18 (Reuters) - Healthcare provider Ardent Health's ( ARDT )

shares opened 6% below their initial public offering

price in their NYSE debut on Thursday, reflecting new investor

caution with new listings amid rate cut uncertainties.

Ardent's shares began trading at $15 apiece, giving the

company a market valuation of $2.15 billion, compared with the

IPO price of $16 each.

The Tennessee-based company sold 12 million shares on

Thursday to raise $192 million after pricing its shares at $16

apiece, way below its expected offering price range of $20 to

$22 per share.

The IPO market, which began to show signs of strong

comeback after two dull years, has begun to falter as the U.S.

Federal Reserve continues to delay interest rate cuts, prompting

several companies to even postpone their debut plans.

Ardent is the fourth-largest privately held, for-profit

operator of hospitals and a healthcare services provider in the

U.S., according to the filing.

It has 30 acute care hospitals and more than 200 sites

of care with over 1,700 providers across Texas, Oklahoma, New

Mexico, New Jersey, Idaho and Kansas.