Private hospital group Spire has listed on the London Stock Exchange at the bottom end of its hoped-for price range at 210 pence per share.
The IPO has given the company a market cap of £842.3 million.
Last week, Spire announced an initial public offering price range of 210 pence to 300 pence per share.
However, share trading was mostly flat in the early part of the process.
The group has raised £315 million to help pay down its £1.4 billion debt and cover the £59.8 million cost of floating.
The move leaves private equity firm Cinven with a 61.9% stake in the business.
Cinven purchased Spire from medical insurer Bupa in August 2007 for £1.4 billion.
It expanded the group by acquiring Classic Hospitals, Thames Valley Hospital, and the London Fertility Clinic.
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