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Pfizer's animal health unit Zoetis sets terms for $2-billion IPO

12:34 PM MST | January 23, 2013 | Natasha Alperowicz

Zoetis, the Pfizer animal health medicines and vaccines unit, on Thursday announced terms for its previously reported initial public offering of shares (IPO). The company plans to raise about $2.2 billion by offering 86.1 million shares at a price range of $22.00 to $25.00. At the midpoint of the proposed range, Zoetis would command a fully diluted market value of $11.8 billion. Zoetis, which was founded in 2012 and reported $4.3 billion in sales for the 12 months ended 30 September 2012, plans to list on the New York Stock Exchange under the symbol ZTS. J.P...

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