Investor reaction to Nielsen Holdings, the research company slated to go public Wednesday, has been so upbeat that its shares are likely to price at or above the top of its stated range, say people familiar with the deal.
Nielsen has been targeting a price range of between $20 and $22 a share, according to its most recent prospectus, but because its offering appears to be oversubscribed, its price is likely to be set at at least $22 and possibly $23, people familiar with the deal say.
An exact price won’t be set until after 4pm ET.
Nielsen is not expected to add to the number of shares being sold in its IPO, add the people familiar with the deal.
But with expected proceeds of at least $1.7 billion, Nielsen will be by far the biggest IPO so far this year.
And its backing by a consortium of private equity firms—including Thomas H. Lee Partners, The Blackstone Group
, The Carlyle Group, and Kohlberg Kravis Roberts,who took it private in May 2006—make it the largest sponsor-led IPO in nearly four years.
Nielsen’s private equity owners will not sell shares as part of the company’s new stock issuance this week, but they are expected to do so in the coming year.
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