IPO News Archive
SS&C Technologies prices IPO at $15, top of the range
3/30/10
SS&C Technologies, which provides back office software and outsourced services to asset managers, banks and insurers, raised $161 million by offering 10,725,000 shares at $15, the high end of its $13 to $15 range. For the year ended December, 2009, SS&C generated $119 million in operating cash flow (EBITDA) on $270 million in sales. The Windsor, CT based company was previously publicly traded from 1996 to 2005 when it was taken private by Carlyle Group and its CEO. SS&C Technologies, which represents the sixth out of the last seven IPOs to price above the midpoint of its proposed range, will begin trading on the NASDAQ on Wednesday under the symbol "SSNC". J.P. Morgan, Credit Suisse, and Morgan Stanley acted as joint bookrunners on the deal.
Source: www.RenaissanceCapital.com
Latest User Comments
SSN 3/30/2010 7:40:40 PM
Posted by: BEAVISnB
CALX was a bust, opened high then plummeted. Its back down almost to its offering price. Most likely it''s because they have no rev/earnings growth. SSNC looks similar, no growth....
a hot tech IPO? 3/30/2010 2:41:48 PM
Posted by: Opul
After the success of last week''s tech IPOs (CALX and MXL), will SS&C be able to replicate their returns?...