01:07 PM EDT, 03/22/2024 (MT Newswires) -- Auna (AUNA) shares debuted Friday on the New York Stock Exchange at $9.51, well below their initial public offering price of $12 per share.

The stock was trading nearly 18% lower at $9.85 in recent afternoon trading.

The health care company said it raised $360 million from its IPO of 30 million shares, which is expected to close around Tuesday.

Net proceeds will be used to repurchase a 21.2% interest in Auna Salud, as well as for other general corporate purposes, according to the company.

The company runs hospitals and clinics in Mexico, Peru and Colombia and provides prepaid health care plans in Peru.

Price: 9.85, Change: -2.15, Percent Change: -17.91