PPD Inc., a Wilmington, N.C.-based provider of drug development services, filed for an IPO of its common stock to raise up to $100 million.

The contract research organization — led by chairman and CEO David Simmons — plans to list its shares on the Nasdaq Global Select Market under the ticker symbol PPD.

Hellman & Friedman LLCPPD, formerly known as Eagle Holding Co. I, was formed as a corporation in Delaware on April 13, 2017. It is a holding company with no material direct operations, and its principal assets are the Eagle Holding Co. II common shares that it holds.

Eagle Holding Co. II is the indirect parent of Pharmaceutical Product Development LLC, which, together with its subsidiaries, owns substantially all of PPD operating assets.

Private equity investment firms Hellman & Friedman LLC and Carlyle Group LP are among the sponsors of PPD with 56.7% and 23.8% stakes, respectively.

PPD plans to use net proceeds from the offering coupled with cash on hand to redeem $550 million of notes issued by Eagle Holding Co. II in May 2017 and to redeem $900 million of notes issued by Eagle Holding Co. II in May 2019.