March 14 (Reuters) -

Peruvian healthcare and insurance provider Auna said on

Thursday that it aims for a valuation of up to $1.1 billion in

its U.S. initial public offering(IPO).

The company, which operates in 3 Latin American countries

and is controlled by private equity firm Enfoca, plans to raise

up to $450 million by selling about 30 million class A shares

priced between $13 and $15 each.

Despite an uneven recovery so far in the year, the U.S. IPO

market is expected to rebound in 2024 as bets of a soft landing

for the U.S. economy rise, following two weak years driven by

geopolitical pressures and the Federal Reserve's quantitative

tightening to get a hold on inflation.

Auna operates 15 hospitals with 2,308 beds across Mexico,

Colombia, and Peru, offering oncology treatments alongside

health and dental insurance.

The company was founded in 1989 as Oncosalud, offering

members prepaid plans with comprehensive services for cancer

prevention, detection, and treatment.

The company, which also offers health and dental insurance,

is the leading health insurance provider in Peru, with a 29.3%

market share, according to a document filed with the U.S.

Securities and Exchange Commission.

IPO proceeds would be used to pay off debts and for other

general corporate purposes, the company said.

Morgan Stanley, JPMorgan, BTG Pactual, Santander, Citigroup,

and HSBC are the joint bookrunners for the offering.

Auna plans to list on the New York Stock Exchange under

the "AUNA" ticker.