First Data Picks Citigroup, Morgan Stanley for IPO Bankers
ByFirst Data Corp. selected Citigroup Inc., Morgan Stanley and Bank of America Corp. to manage its initial public offering planned for this year.
Private-equity firm KKR & Co., the payment company’s largest shareholder, will help underwrite the deal, First Data said Tuesday in a regulatory filing. Barclays Plc and Credit Suisse Group AG are also among the 15 underwriters managing the offering.
First Data runs a debit-card network, processes bank-card transactions and provides data analytics and other services to merchants. The plan to go public comes eight years after KKR took the company private for $29.8 billion, including debt and fees, in what’s become the firm’s biggest bet ever. The aim is to extract profit from the payment processor, which struggled during the recession…
First Data Picks Citigroup, Morgan Stanley for IPO Bankers
