initial public offerings (IPOs) trading on American exchanges

Friday, June 17, 2011

Bankrate (RATE) began trading on the NYSE on 17 June 2011

  • Bankrate was founded in 1976 by Robert K. Heady as a print publisher of the "Bank Rate Monitor."
  • Today, Bankrate, Inc.'s online network includes as well as,,,,,,,,,,, and Quizzle.
In June 2011, Bankrate raised a total of $300 million in gross proceeds with a successful Initial Public Offering on the New York Stock Exchange.
    In December 2011, Bankrate priced a secondary offering of 12.5 million shares at $17.50 per share.

    The company sold 20 million shares for $15 each, raising $300 million. It had planned to sell shares for $14 to $16 each. Based on 100 million shares outstanding at the time of the IPO, Bankrate now has a market value of around $1.5 billion.

    That means Apax Partners, which acquired Bankrate via Ben Holding S.a.r.l. for $571 million in 2009, has more than doubled its investment.

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