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KKR & Co.'s (KKR) First Data files for $100M IPO

July 20, 2015 4:09 PM EDT

(Updated - July 20, 2015 4:18 PM EDT)

KKR & Co.'s (NYSE: KKR) First Data filed a registration with the U.S. SEC for an IPO of its common stock. The proposed maximum offering price is $100 million. The company hasn't selected ta ticker to trade under or an exchange to list on.

The company said: After the completion of this offering, affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR) will continue to control a majority of the voting power of our common stock. As a result, we will be a “controlled company” within the meaning of the corporate governance standards of the applicable stock exchange.

Financial commentary: In 2014, we generated $11.2 billion of revenue, $1.4 billion of operating profit, and had a net loss attributable to First Data of $458 million, reflecting an increase of 3%, 28% and 47% (decrease of loss), respectively, over 2013. For the same period, we generated segment revenues (which exclude reimbursable fees and other items) of $6.9 billion, Adjusted EBITDA of $2.7 billion, and Adjusted Net Income of $409 million, reflecting an increase of 3%, 9% and 354%, respectively, over 2013.

First Data sits at the center of global electronic commerce. " We believe we offer our clients the most complete array of integrated solutions in the industry, covering their needs across next-generation commerce technologies, merchant acquiring, issuing, and network solutions. We serve our clients in 118 countries, reaching approximately 6 million business locations and over 4,000 financial institutions," the company said.



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