Vantiv Could Raise $608M in Latest Payments IPO

vantiv
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.

Topics:
Comments
Also by This Author
What's Hot
Alternative Financial Services
New Partnership Set To Boost B2B eCommerce
Alternative Financial Services
University of Dubai Opts For New ERP System
B2B Payments
CMS Payments Site Heading For More Downtime
News
Visa’s Worst Nightmare: Smarter Bankers
View All Articles ››
You May Also Like
Company Spotlight
The Financial Inclusion Game Changer
Company Spotlight
Prepaid Products and the “Self-Banked”
Company Spotlight
What Most ATM Cash Planning Models Miss
Mastercard
In Pursuit Of The Affluent Cardholder
View All Articles ››