Outsourced broadcast news: NEP Group sets terms for $208 million IPO

NEP Group, a largest global provider of outsourced live and broadcast production solutions, announced terms for its IPO on Monday.

The Pittsburgh, PA-based company plans to raise $208 million by offering 13.0 million shares at a price range of $15 to $17. At the midpoint of the proposed range, NEP Group would command a fully diluted market value of $616 million.

NEP Group, which was founded in 1986 and booked $451 million in sales for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol NEPG. Barclays, Morgan Stanley, Jefferies, Macquarie Capital and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of July 27, 2015.