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
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