Vantiv, Inc. has announced more details of initial public offering of 29,412,000 shares of its common stock. Vantiv calls itself “a leading, integrated payment processor differentiated by a single, proprietary technology platform.” Each share is expected to price between $16 and $18 per share.
Vantiv is currently owned by Fifth Third Bancorp (NASDAQ: FITB) and buyout firm Advent International and its IPO filing was initially for up to $100 million in common stock. Some of Vantiv’s independent competitors are Global Payments Inc (NYSE: GPN), Total System Services (NYSE: TSS), and First Data.
The book running managers are J.P. Morgan Securities, Morgan Stanley, and Credit Suisse Securities. Other managers in the offering are Goldman Sachs and Deutsche Bank Securities. Co-managers are listed as Citigroup, UBS Securities, Jefferies, Raymond James, William Blair & Company, and Wells Fargo Securities. These underwriters have been granted an overallotment for 30-days to purchase up to an additional 4,411,800 shares of common stock from Vantiv and from the selling stockholders on the same terms and conditions.
The value at the mid-point of the range is roughly $2.1 billion and the company will list on the New York Stock Exchange under the symbol “VNTV”.
JON C. OGG
No Commission Fees, No Minimums, No Velvet Ropes. (Sponsored)
Robinhood revolutionized commission free investing, and it continues to do so today. With a few simple taps you can trade stocks like Nvidia and Amazon, market beating mutual funds, and trade options with Robinhood Financial. FDIC insurance coverage is just another benefit.
And, you can buy and sell cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) with Robinhood Crypto.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.