08:14 AM EDT, 07/15/2024 (MT Newswires) -- Select Medical Holdings ( SEM ) said Monday that its subsidiary Concentra Group Holdings Parent, Inc. has launched a roadshow for the initial public offering of 22.5 million shares of its common stock.

The company also expects to grant the underwriters a 30-day option to buy up to an additional about 3.4 million shares of its common stock to cover possible over-allotments.

The IPO price is currently expected to be between $23 and $26 per share, the company said.

Concentra has been approved to list its common stock on the New York Stock Exchange under the symbol "CON."

After the completion of the IPO, Select Medical ( SEM ) will own about 104.1 million shares of Concentra's common stock, representing 82.23% of the total outstanding shares.

Price: 36.89, Change: -0.60, Percent Change: -1.60