HR software LBO Ceridian HCM sets terms for $420 million IPO

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Ceridian HCM Holding, which provides enterprises with human capital management software, announced terms for its IPO on Thursday.

The Minneapolis, MN-based company plans to raise $420 million by offering 21 million shares at a price range of $19 to $21. Insiders intend to purchase $75 million worth of shares in the offering and $100 million in a concurrent private placement. At the midpoint of the proposed range, Ceridian HCM Holding would command a fully diluted market value of $2.8 billion and an enterprise value of $3.3 billion.

Ceridian HCM Holding was founded in 2013 and booked $671 million in sales for the 12 months ended December 31, 2017. It plans to list on the NYSE under the symbol CDAY. Goldman Sachs, J.P. Morgan, Credit Suisse, Deutsche Bank, Barclays, Citi, Jefferies, CIBC and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of April 23, 2018.

The article HR software LBO Ceridian HCM sets terms for $420 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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