Match Group (MTCH) IPO Opens 12.5% Higher than Expected Pricing to $13.50/Share
(Updated - November 19, 2015 10:54 AM EST)
The IPO for Match Group (NASDAQ: MTCH) opened at $13.50 per share today. On Wednesday night, the company announced that it priced 33,333,333 shares of its common stock at a price to the public of $12.per share.
With its IPO filing, Match Group said "revenue increased from $713.4 million in 2012 to $803.1 million in 2013 and then to $888.3 million in 2014, representing year-over-year increases of 13% and 11%, respectively. In 2012, 2013 and 2014, the company generated Adjusted EBITDA of $236.5 million, $271.2 million, and $273.4 million, respectively, operating income of $186.6 million, $221.3 million and $228.6 million, respectively, and net earnings of $90.3 million, $126.6 million and $148.4 million, respectively."
J.P. Morgan Securities LLC, Allen & Company LLC and BofA Merrill Lynch acted as the lead bookrunning managers, and Deutsche Bank Securities, BMO Capital Markets, Barclays and BNP PARIBAS acted as bookrunners for the offering.
Match Group is the world's leading provider of dating products. The company operates a portfolio of over 45 brands, including Match, OkCupid, Tinder, Meetic, Twoo, OurTime and FriendScout24.