Manning & Napier, a independent investment management firm with $43 billion in assets under management, announced terms for its IPO on Monday. The Fairport, NY-based company plans to raise $200 million by offering 12.5 million shares at a price range of $15.00 to $17.00. At the mid-point of the proposed range, Manning & Napier will command a market value of $1.4 billion. Manning & Napier, which was founded in 1970 and booked $323 million in revenues for the 12 months ended September 30, 2011, plans to list on the NYSE under the symbol MN. Bank of America is the lead underwriters on the deal, which is expected to price during the week of November 14.
