The True North-backed health insurer expects a valuation of $2 billion for the pre-IPO capital raising, the people cited above said on the condition of anonymity. The prospective investors are already conducting due diligence on the company, one of the two people said, requesting anonymity.
“The bids are due on 10 April," the second person said.
True North may also sell some of its stake as the company wants to realign the capitalization table ahead of the IPO, the first person said. Other than Temasek, Warburg and CPPIB, some public market investors also have expressed interest, they said, but declined to identify them.
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