December 13, 2001

Want a Reprint? Printable Version Email Story

Centene launches IPO at $14 per share

Centene Corp. has started its initial public offering of 3.5 million shares at $14 per share.

Of the shares, 3.25 million are being sold by the company, and 250,000 are being sold by an unnamed stockholder.

The company, which will trade under the ticker CNTE on the Nasdaq National Market, announced in October its plans to go public in order to raise up to $57.5 million. The company said it would use the proceeds to pay $4 million of subordinated notes and for general corporate purposes, including working capital and potential acquisitions.

Michael Neidorff, president and chief executive of Centene Corp., controls stock that will be worth up to $5.7 million after the public offering. Neidorff will control 380,040 shares, or 3.7 percent of the total stock outstanding, after the offering, according to a Nov. 13 filing with the Securities and Exchange Commission.

Underwriters for the offering are SG Cowen Securities Corp., Thomas Weisel Partners LLC and CIBC World Markets Corp.

	Sign up to receive free daily business updates by email every weekday afternoon.
	Use Search Watch to watch for related topics, companies.
	Receive free Industry News via email. Choose from 46 different industries.

St. Louis-based Centene specializes in providing services to government-supported health care programs in Wisconsin, Texas and Indiana. The company tied for 58th place on the Business Journal's March list of Largest Privately Held Companies in St. Louis, with 2000 revenue of $220 million, up from $201 million in 1999. The company employs 282 nationwide, with 68 in its St. Louis headquarters.