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PPD submits documents to SEC to go public

Wilmington City Council approved $121,563 worth of incentives to PPD Wednesday night.
Wilmington City Council approved $121,563 worth of incentives to PPD Wednesday night.
Published: Nov. 13, 2019 at 5:24 PM EST
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WILMINGTON, N.C. (WECT) - One of the largest employers in New Hanover County has submitted documents to the SEC and could become a publicly-traded and owned entity.

Pharmaceutical Product Development LLC announced Tuesday its parent company, PPD Inc, has confidentially submitted a draft registration statement on Form S-1 with the SEC relating to the proposed initial public offering of the parent company’s common stock.

According to a press release from PPD, the price and number of shares to be offered have not been determined. The company says they expect to use the money from the offering for “general corporate purposes, which may include the repayment of indebtedness."

The initial public offering is expected to begin after the SEC completes its review process.

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