Medline’s PE Backers Start Stake Sale Worth $3.4 Billion (1)

Medline Inc. shareholders are offering 75 million shares in the company, capitalizing on a rally in the medical supplier’s stock since its debut late last year.

Shareholders including Blackstone Inc., Carlyle Group Inc., Hellman & Friedman and the Abu Dhabi Investment Authority are offering the shares, according to a Tuesday morning filing. The stake would be worth $3.4 billion at Monday’s closing price, according to Bloomberg calculations.

The stock had rallied 58% since its $7.2 billion initial public offering in December, which was the largest of the year, through Monday’s close. Shares slid as much as 5.9% ...