Website hosting firm godaddy Inc filed with U.S. regulators on Monday to lift up to $a hundred million in a preliminary public offering of class a typical stock.
Morgan Stanley, J.P. Morgan and Citigroup are the lead underwriters for the IPO, the corporate instructed the U.S.Securities and trade commission in a preliminary prospectus.
The filing did not reveal what number of shares the corporate deliberate to promote or their expected value.
Godaddy joins quite a few high-profile tech businesses that have either long past public or filed to move public this 12 months, following Twitter Ink’s a hit debut ultimate November.
Godaddy, which had 12 million buyers as of March 31, didn’t specify the trade it intends to listing on or the emblem it might undertake.
Reuters reported in March that the company, identified for advertisements that includes race car driver Dania Patrick, was eyeing a preliminary public offering.
Scottsdale, Arizona-based godaddy, based in 1997, was once bought by means of an individual fairness consortium led by using KKR & Co LP and Silver Lake in 2011 for $2.25 billion. Each of these private equity firms owns a 28 percent stake within the company.
The company’s other personal equity house owners include technology Crossover Ventures with a couple of 12.6 percent stake.
Godaddy is led via Blake Irving, who also served as chief product officer at Yahoo Inc from 2010 to 2012. In a separate statement, the company stated on Monday that founder Bob Parsons had resigned as government chairman of the board.
Godaddy filed to move public in 2006 but was advised on the time that it must take a 50 % haircut – a proportion subtracted from the par worth of belongings getting used as collateral – on its preliminary public providing.
The corporate decided as a substitute to drag its submitting, citing destructive market stipulations.
Godaddy will use the proceeds from the providing to repay debt and for normal corporate purposes, the company said. The corporate’s internet loss fell less than a % to $51.3 million for the three months ended March 31 from a yr. Past. Income raised about 22 pic to $320.2 million.
The amount of money an organization says it plans to raise in its first IPO filings is used to calculate registration charges. The final dimension of the IPO can be completely different.