Core Insights - Medline Inc. shares are expected to open 16% higher than their IPO price, raising $6.26 billion in the largest IPO of the year [1][2] - The IPO pricing values Medline at approximately $39 billion, making it a significant player in the medical supply industry [2][5] - The successful IPO concludes the US IPO calendar for the year, setting a positive tone for future listings, including a potential SpaceX debut in 2026 [3] Company Overview - Medline manufactures and distributes essential medical supplies such as gloves, gowns, and exam tables for hospitals and doctors [1] - The company was acquired in a $34 billion leveraged buyout by Blackstone Inc., Carlyle Group Inc., and Hellman & Friedman in 2021 [1] Market Context - The IPO surpassed the previous largest listing of the year, which was a $5.26 billion offering by Contemporary Amperex Technology Co. Ltd. [2] - Medline's IPO is the largest in the US since Rivian Automotive Inc.'s $13.7 billion deal in 2021 [2] - The total amount raised from first-time share sales in the US this year exceeds $46 billion, indicating a strong market despite previous disruptions [4] Investment Details - Medline secured up to $2.35 billion in commitments from cornerstone investors, including notable firms like Baillie Gifford and Morgan Stanley [6] - The upsized offering included proceeds from over 37 million shares designated for purchasing stock from pre-IPO shareholders, allowing private equity firms to realize returns without selling shares outright [7]