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Apollo-backed transaction processor Evertec sets terms for $400 million IPO

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Evertec, which is a leading full-service transaction processing service in Latin America and the Caribbean, announced terms for its IPO on Thursday. The San Juan, Puerto Rico-based company plans to raise $400 million by offering 21.1 million shares (69% insider) at a price range of $18 to $20. At the midpoint of the proposed range, Evertec would command a fully diluted market value of $1.6 billion.

Evertec, which was founded in 1988 and booked $342 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol EVTC. Evertec initially filed confidentially on 11/2/2012. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.

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.

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