Bankrate (RATE) IPO Prices at $15, Middle of Range
Tweet Send to a Friend
Get Alerts RATE Hot Sheet
Trade RATE Now!
Bankrate, Inc. (NYSE: RATE) priced its initial public offering of 20,000,000 shares at $15.00 per share, the middle of the expected $14.00-$16.00 range. Shares will begin trading on the NYSE today under the symbol "RATE."
Goldman, Sachs & Co., BofA Merrill Lynch are the joint bookrunning managers and representatives of the offering.
Following the offering there will be 100,000,000 total shares outstanding, giving the company a market cap of $1.5 billion based on the $15 pricing.
The company had revenues of $99.1 million in the three months ended March 31, 2011, up sharply from the $34.46 million reported in the same period last year. The company posted net income of $5.061 million in the quarter versus a loss of $5.2 million last year. However after paying an accumulated preferred dividend the loss of $4.2 million in this year's quarter.
Bankrate is a leading publisher, aggregator and distributor of personal finance content on the Internet.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Goldman, Sachs & Co., BofA Merrill Lynch are the joint bookrunning managers and representatives of the offering.
Following the offering there will be 100,000,000 total shares outstanding, giving the company a market cap of $1.5 billion based on the $15 pricing.
The company had revenues of $99.1 million in the three months ended March 31, 2011, up sharply from the $34.46 million reported in the same period last year. The company posted net income of $5.061 million in the quarter versus a loss of $5.2 million last year. However after paying an accumulated preferred dividend the loss of $4.2 million in this year's quarter.
Bankrate is a leading publisher, aggregator and distributor of personal finance content on the Internet.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Friday's Hot IPOs Get Even Hotter (MKTO) (DATA)
- UPDATE: Shares of Sony (SNE) Spike; Considers Spinning Entertainment Arm
- Strong Zale (ZLC) Results May be Positive for Signet (SIG) Into Q1 Report
Create E-mail Alert Related Categories
Hot IPOs, IPOs, Trader TalkRelated Entities
Merrill Lynch, Bank of America, Dividend
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
