LPL Investment Holdings, which provides an integrated technology platform, clearing services and financial products to advisors, announced terms for its IPO on Wednesday. The Boston, MA-based company plans to raise $445 million by offering 15.6 million shares at a price range of $27.00 to $30.00. At the mid-point of the proposed range, LPL Investment Holdings will command a market value of $3.3 billion. LPL Investment Holdings, which was founded in 1989 and booked $2.9 billion in sales over the last 12 months, plans to list on the NASDAQ under the symbol LPLA. Goldman, Sachs & Co., Morgan Stanley, and BofA Merrill Lynch are the lead underwriters on the deal, which is expected to price during the week of 11/15/10.
