Markets

Apollo-backed ADT sets terms for $2.0 billion IPO

An image of a pen and a calculator
Credit: Shutterstock photo

ADT, an Apollo-backed provider of monitored security services for homes and businesses, announced terms for its IPO on Friday.

The Boca Raton, FL-based company plans to raise $2.0 billion by offering 111.1 million shares at a price range of $17 to $19. At the midpoint of the proposed range, ADT would command a fully diluted market value of $13.7 billion.

ADT was founded in 1874 and booked $4.3 billion in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol ADT. Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank, RBC Capital Markets, Citi, BofA Merrill Lynch and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of January 15, 2018.

The article Apollo-backed ADT sets terms for $2.0 billion 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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

Other Topics

IPOs

Latest Markets Videos