HCA shareholders plan $1B stock sale

Bain, KKR to trim combined stake by a fifth

The biggest shareholders of Nashville's biggest company are about to get a little smaller.

HCA Holdings on Monday afternoon said that funds under the umbrellas of Bain Capital and Kohlberg Kravis Roberts plan to sell about $1 billion worth of shares. Members of the Frist family are not taking part in the secondary offering, which will total 32 million shares. In a prospectus detailing the offering, HCA says the sale will be finalized before the Dec. 17 record date for a $2-per-share special dividend the company recently declared.

Both Bain and KKR plan to sell almost 15.3 million shares. As of Sept. 30, the two firms each owned 89.5 million shares. Bain and KKR were the leaders of the $33 billion buyout of HCA in late 2006 and led the company back to the public markets almost two years ago. If the firms succeed in selling all the shares they plan to, the stake in HCA held by the entity comprising them and the Frist family would fall to around 52 percent from almost 60 percent.

Shares of HCA (Ticker: HCA) dipped about 2.5 percent in after-hours action Monday to $33. Year to date, the stock has climbed more than 50 percent.