Medical Properties Trust (MPT) said Wednesday that Swiss hospital real estate company Infracore, in which it owns a 70% non-controlling stake, is expected to list its shares on the SIX Swiss Exchange following its initial public offering in Switzerland.

The share price of the initial listing is 54 Swiss francs ($66.79), which values Infracore's equity market capitalization at 826 million Swiss francs, or about 5% higher that its pro rata carrying value, Medical Properties said.

Infracore plans to issue about 3.7 million new shares to raise about 200 million Swiss francs in gross proceeds. Medical Properties said it expects to sell 500,000 of its Infracore shares, as well as another 400,000 shares if the over-allotment option is exercised, for total proceeds of about 50 million Swiss francs.

Medical Properties said the offering will reduce its stake in Infracore to 47% if there is a full exercise of the overallotment option, or 49.9% if there is not.

Infracore shares are expected to begin trading on the SIX Swiss Exchange on Thursday under the ticker symbol "INFRAC."

Medical Properties said it will use the proceeds from the offering to repay debt and for other general corporate purposes.