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Bankrate To Raise $500M In IPO
Bankrate is seeking to raise around $500 million in an initial public offering.
Bankrateis seekingto raisearound $500 million in an initial public offering (IPO),Reutersreports. The U.S. consumer financial services company will use the proceeds from the offering to pay down its debt and for other general corporate purposes.
The lead underwriters on the offering areGoldman Sachs,Bank of America Merrill Lynch,CitigroupandJPMorgan. Bankrate has not yet selected a stock exchange to list its shares and has also not provided further details of the IPO.
Click here for the story fromReuters.
Click here for additional coverage fromThe Wall Street Journal.