Lincoln International IPO draws strong demand ahead of pricing

Investing.com -- Lincoln International Inc.'s initial public offering has attracted orders for multiple times the available shares, Bloomberg reported Friday.

The Chicago-based investment banking advisory firm has received sizable orders from long-only investors, according to the report. The company will stop accepting IPO orders on Monday at 4 p.m. in New York and is on track to price after the market closes on Tuesday.

Lincoln International and selling stockholders are seeking up to $421 million by offering nearly 21 million shares priced between $18 and $20 each. At the midpoint of the price range, the IPO terms in its SEC filings value Lincoln at a discount to Houlihan Lokey Inc. based on their price-to-earnings multiples.

The boutique investment bank said Monday it was targeting a valuation of up to roughly $2 billion. Shares are expected to trade on the New York Stock Exchange under the symbol LCLN.

Goldman Sachs Group Inc., Morgan Stanley, Bank of Montreal, Citizens Capital Markets and Evercore Inc. are among the banks working on the offering.

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