Vantiv Could Raise $608M in Latest Payments IPO

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What's Next In Payments®
5:05 PM EDT March 8th, 2012

Vantiv Inc., a Cincinnati-based payment processor, could raise more than $608 million through its initial public offering.

The company will offer 29,412,000 shares of Class A common stock at a price between $16.00 and $18.00 a share, an official release explains. The offering also grants the underwriters — led by JP Morgan Chase — a purchase option for an additional 4,411,800 shares.

Vantiv will use proceeds from its IPO to pay down part of its $1.8 billion in long-term debt, according to the Cincinnati Community Press.

That offer price sets Vantiv’s total enterprise value near $3.6 billion, according to Reuters. The company adopted its current moniker in mid-2011, two years after Fifth Third sold a 51 percent stake in the venture to Advent International. At that time, the business was called Fifth Third Processing Solutions.

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