Bankrate (RATE) IPO Opens Lower
Tweet
Share
E-mail
Get Alerts RATE Hot Sheet
Join SI Premium – FREE
The IPO for Bankrate, Inc. (NYSE: RATE) is open for trading. Shares are trading at $14.09 after pricing 20,000,000 shares at $15.00 per share, the middle of the expected $14.00-$16.00 range.
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- US Financial 15 Split Corp. declares $0.07317 monthly preferred dividend
- SpaceX Shares Indicated To Open At $155
- SpaceX (SPCX) indicating to open at $172
Create E-mail Alert Related Categories
Hot IPOs, IPOs, Trader TalkRelated Entities
DividendSign 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!
