Credit: Shutterstock photoServiceMaster Global Holdings, a provider of residential and commercial building maintenance services, announced terms for its IPO on Monday. The Memphis, TN-based company plans to raise $700 million by offering 35.9 million shares at a price range of $18 to $21. At the midpoint of the proposed range, ServiceMaster would command a fully diluted market value of $2.5 billion.
ServiceMaster, which was founded in 1952 and booked $2.3 billion in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol SERV. J.P. Morgan, Credit Suisse, Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
