SunGard announced it has filed a registration statement for proposed initial public offering (IPO) with the US Securities and Exchange Commission (SEC). The number of shares to be offered, price range and stock exchange listing for the IPO has not been determined.
According to SunGard's Form S-1, the fundraising target has initially been placed at $100 million. JP Morgan, Goldman Sachs, Barclays, Deutsche Bank, Credit Suisse, Bank of America, Citi, Morgan Stanley, RBC, UBS and Wells Fargo were all listed as underwriters.
In 2005, SunGard was bought for $11.4 billion by Silver Lake Partners, TPG Capital, Bain Capital, Blackstone Group, Goldman Sachs and Providence Equity Partners. According to a report by Reuters, SunGard is one of the longest-held investments in private equity history.
The Reuters' story also states sources have indicated the company could be valued up to $10 billion, including debt.
Jesse Lund talks about real uses for DLT in the capital markets, lessons learned while rolling out IBM's blockchain platform, and what’s ahead for 2018, and into 2019.Subscribe to Weekly Wrap emails