Reval Files For IPO, Treasury and Risk Management

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Reval Holdings, Inc. has filed its paperwork with the Securities and Exchange Commission to allow it to conduct an initial public offering.  No terms were set as far as shares outstanding, nor was any price range per share.

All that was disclosed is that the IPO would be for up to $75 million for the treasury and risk management outfit.  The company did not even set a stock ticker nor did it disclose whether it was going to pick NASDAQ or the New York Stock Exchange for its listing exchange.

The underwriters are listed as BofA Merrill Lynch and Stifel Nicolaus Weisel as the joint book-runners; co-managers were listed in the filing as BMO Capital Markets, Lazard Capital Markets, and also Raymond James.

Reval’s name gives absolutely no hint whatsoever as to what the company does.  Its description noted, “We are the leading, global SaaS provider of comprehensive and integrated treasury and risk management solutions. Our cloud-based software and related offerings enable enterprises to better manage cash, liquidity and financial risk, and include specialized capabilities to account for and report on complex financial instruments and hedging activities. The scope and timeliness of the data and analytics we provide allow chief financial officers, treasurers and finance managers to operate more confidently in an increasingly complex and volatile global business environment.”

Revenues increased from $21.9 million in 2009, to $32.2 million in 2010, and up to $45.0 million in 2011.  The company is still losing money as it stated, “To support our growth, we have invested heavily in expanding our client base and technology.”  Reval’s operating losses were $10.0 million in 2009, $8.1 million in 2010 and $19.3 million in 2011.

JON C. OGG

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