TORONTO, June 1 (Reuters) - Canadian health company Apotex Health said on Monday it is seeking to raise up to C$1.2 ‌billion ($868.06 million) in an initial public offering on the Toronto ‌Stock Exchange, in a deal that could help revive the country’s subdued IPO market.

Apotex ​said it is expected to offer between 41.7 million and 50 million shares at a price range of C$20 to C$24 for gross proceeds of C$1 billion.

The company said it is raising roughly C$850 million ‌by issuing new shares, while ⁠existing shareholders are selling about C$150 million of stock as part of the offering.

The IPO is one of ⁠the first major offerings on the TSX this year, after only a handful of listings in the past few years as companies avoided the subdued ​market ​to seek fresh capital.

However, renewed economic confidence ​and a rising TSX have ‌contributed to fresh interest with companies in technology, natural resources and other sectors revisiting their plans.

Toronto-based quantum computing firm Xanadu Quantum Technologies went public earlier this year through a merger with the special purpose acquisition company, listing on both Nasdaq and the TSX, raising about $300 million.

Apotex, ‌which caters to clients in about 70 ​countries across North and South America, has ​recorded revenue growth of ​about 8% over the last four fiscal years, it ‌said, largely powered by its core ​generics business by ​focusing on first‑to‑market products and expanding into higher‑value areas like specialty generics, brands, and biosimilars.

Underwriters on the deal included RBC Capital Markets, ​TD Securities , Scotiabank. ‌BMO Capital Markets and Jefferies are joint bookrunners, Apotex said ​in a press release.

($1 = 1.3824 Canadian dollars)

(Reporting by Nivedita Balu ​in Toronto; Editing by Chizu Nomiyama )