Wealth management platform AssetMark Financial sets terms for $250 million IPO

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AssetMark Financial Holdings, which provides a wealth management platform for independent financial advisers, announced terms for its IPO on Monday.

The Concord, CA-based company plans to raise $250 million by offering 12.5 million shares (50% insider) at a price range of $19 to $21. At the midpoint of the proposed range, AssetMark Financial Holdings would command a market value of $1.4 billion.

AssetMark Financial Holdings was founded in 1994 and booked $371 million in revenue for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol AMK. J.P. Morgan, Goldman Sachs, Credit Suisse and Huatai Securities are the joint bookrunners on the deal. It is expected to price during the week of July 15, 2019.

The article Wealth management platform AssetMark Financial sets terms for $250 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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