Vantiv (VNTV) IPO Opens Higher
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The IPO for Vantiv, Inc. (NYSE: VNTV) is open for trading. Shares are trading at $19 after pricing 29,412,000 shares at $17 per share, the middle of the expected $16-$18 range.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as lead joint book-running managers and Goldman, Sachs & Co. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Citigroup Global Markets Inc., UBS Securities LLC, Jefferies & Company, Inc., Raymond James & Associates, Inc., William Blair & Company, L.L.C. and Wells Fargo Securities, LLC are acting as co-managers.
Vantiv is a leading, integrated payment processor differentiated by a single, proprietary technology platform. According to the Nilson Report, the company is the third largest merchant acquirer and the largest PIN debit acquirer by transaction volume in the United States.
Revenue increased from $884.9 million for the year ended December 31, 2008 to $1.6 billion for the year ended December 31, 2011. Net income decreased from $152.6 million for the year ended December 31, 2008 to $84.8 million for the year ended December 31, 2011. Our pro forma adjusted EBITDA increased from $278.7 million for the year ended December 31, 2008 to $438.8 million for the year ended December 31, 2011.
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J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as lead joint book-running managers and Goldman, Sachs & Co. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Citigroup Global Markets Inc., UBS Securities LLC, Jefferies & Company, Inc., Raymond James & Associates, Inc., William Blair & Company, L.L.C. and Wells Fargo Securities, LLC are acting as co-managers.
Vantiv is a leading, integrated payment processor differentiated by a single, proprietary technology platform. According to the Nilson Report, the company is the third largest merchant acquirer and the largest PIN debit acquirer by transaction volume in the United States.
Revenue increased from $884.9 million for the year ended December 31, 2008 to $1.6 billion for the year ended December 31, 2011. Net income decreased from $152.6 million for the year ended December 31, 2008 to $84.8 million for the year ended December 31, 2011. Our pro forma adjusted EBITDA increased from $278.7 million for the year ended December 31, 2008 to $438.8 million for the year ended December 31, 2011.
Keep up to date on the Vantiv IPO at StreetInsider.com's IPO Insider.
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