Verisk Analytics, a provider of risk management solutions based on proprietary data and statistical models, announced terms for its IPO on Monday. The Jersey City, NJ-based company plans to raise $1.7 billion by offering 85,250,000 shares at a price range of $19.00 to $21.00. At the mid-point of the proposed range, Verisk Analytics will command a market value of $3.6 billion. Verisk Analytics, which was founded in 1971 and booked $960 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol VRSK. BofA Merrill Lynch and Morgan Stanley are acting as joint book-running managers for the offering, which is expected to price on Tuesday, October 6 after the market close.
