Interactive Data Holdings has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given in the filing regarding the pricing, but the offering is valued up to $100 million. The company plans to file on the New York Stock Exchange under the symbol IDC.
The underwriters for the offering are Morgan Stanley, Barclays, Merrill Lynch, UBS Investment Bank, Citigroup, Credit Suisse, Deutsche Bank, Evercore ISI, Goldman Sachs and Wells Fargo.
Founded in 1968, this is a leading global provider of mission-critical financial market data, analytics and related solutions that are deeply embedded within clients’ workflows. These products and services help increase transparency and efficiency and reduce risk for many of the world’s largest financial institutions. Over 5,000 financial institutions and approximately 600 software and service providers use products and services, incorporating information throughout the investment lifecycle, in areas such as trading, portfolio management, regulatory compliance, risk management and securities valuation.
The company enjoys strong relationships with its diverse client base, which includes 49 of the top 50 global asset managers, all the top 50 U.S. mutual funds, 48 of the top 50 U.S. banks, 33 of the top 50 global hedge funds, all the top 15 global custodians, all the top 10 global investment banks and all the top 5 index providers.
In the filing Interactive Data described its finances as follows:
For the six months ended June 30, 2015 and the years ended December 31, 2014, 2013 and 2012, we generated revenue of $467.8 million, $939.2 million, $905.1 million and $880.2 million, respectively. For the six months ended June 30, 2015 and the years ended December 31, 2014, 2013 and 2012, we generated net income (loss) of $8.3 million, $(36.0) million, $13.0 million and $0.6 million, respectively. For the six months ended June 30, 2015 and the years ended December 31, 2014, 2013 and 2012, we generated Adjusted EBITDA of $180.3 million, $361.6 million, $350.6 million and $344.0 million, respectively. Our Adjusted EBITDA margins for the six months ended June 30, 2015 and the years ended December 31, 2014, 2013 and 2012 were 38.5%, 38.5%, 38.7% and 39.1%, respectively.
The company intends to use the next proceeds from this offering for general corporate purposes, which may include, among other things, further repayment of indebtedness.
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