New York financial analytics outfit RiskMetrics Group says it will sell a total of 14 million shares at an estimated price of $17-$19 apiece in its forthcoming initial public offering (IPO).
In documents filed with the Securities and Exchange Commission (SEC), RiskMetrics says it will offer around 10 million shares, with a group of stockholders selling a further four million shares.
Based on the expected price range, RiskMetrics would have a market capitalisation of between $982.6 million and approximately $1.1 billion.
The vendor expects to raise around $164.4 million, after fees and expenses, from its portion of the offering, assuming an IPO price of $18 per share.
RiskMetrics says it will use proceeds from the offering to pay debt and for general corporate purposes.
The firm began as an internal function within JP Morgan in 1994 before being spun out as a separate company in 1998.
Last year the vendor acquired proxy voting and governance company Institutional Shareholder Services. It has also recently bought the Center for Financial Research & Analysis.