Molina Healthcare IPO Price, Date Set

Molina Healthcare Inc., a Long Beach-based managed-care company, is expected to go public in the week of June 23 with a stock offering estimated at $102 million. The shares will be priced at $16 to $18, according to IPO Financial.com data service.

Molina, which reported a profit of $30.5 million last year, has nearly half a million members in California and three other states. The company focuses on health-care services for lower-income families who are on Medicaid.

The company first filed to go public in December. Based on its offering share price, Molina would have an estimated market capitalization of $421 million, said David Menlow, president of Millburn, N.J.-based IPO Financial.

“We like this company,” Menlow said. “It’s got strong revenue growth and has been profitable for the last five years.”

There have been just seven IPOs so far this year, Menlow said, but the market is starting to show some improvement.

-- Debora Vrana