Green Dot has been highlighted as Renaissance Capital's Featured IPO.
The leading provider of reloadable prepaid debit cards in the US, Green Dot is one of four deals on the IPO calendar set to debut this week. The company seeks to address the 60+ million Americans that lack full access to traditional checking and savings accounts by offering prepaid cards with no overdraft fees and no minimum balances that can be conveniently purchased at 50,000 retail outlets such as Walmart (WMT) and Walgreens (WAG).
Green Dot's profitable track record, high growth and strong cash flow should help it appeal to investors. JPMorgan (JPM) and Morgan Stanley (MS) are the bookrunners on the deal, which is expected to price Wednesday evening and list on the NYSE under the symbol "GDOT."
Read our full IPO Commentary.
