Agilent Technologies prepares for IPO

Newly spun-off Hewlett-Packard healthcare operation Agilent Technologies has filed a registration statement with the Securities and Exchange Commission for a proposed public offering, the company has announced. Agilent will offer 57 million shares of common stock, 45.6 million offered in the U.S. and Canada, and 11.4 million of which will be offered internationally. Estimated IPO price per share is between $19 and $22, according to Agilent. Morgan Stanley Dean Witter and Goldman, Sachs & Company are handling the offering.

In March, Palo Alto, CA-based Hewlett-Packard spun off its medical products group, along with four other businesses, in an effort to focus on its computer business (SCAN 3/17/99). The name Agilent Technologies was chosen for the $8 billion Andover, MA, company in August (SCAN 8/4/99).