Medtronic’s diabetes unit MiniMed seeks up to $784M in U.S. IPO

MiniMed Group (MMED) plans to raise up to $784M in its U.S. IPO, separating from parent Medtronic (MDT). The company aims to offer 28M shares priced between $25.00 and $28.00 on Nasdaq under the ticker MMED. At the midpoint price of $26.50, MiniMed expects to generate $712.32M in net proceeds, potentially valuing the company at $7.9B. Medtronic will retain approximately 90% ownership post-listing, with Goldman Sachs and BofA Securities as underwriters.