Laureate Education, the largest for-profit higher education company, announced terms for its IPO on Wednesday.
The Baltimore, MD-based company plans to raise $537 million by offering 29 million shares at a price range of $17 to $20. At the midpoint of the proposed range, Laureate Education would command a fully diluted market value of $3.0 billion.
Laureate Education was founded in 1989 and booked $4.2 billion in sales for the 12 months ended September 30, 2016. It plans to list on the Nasdaq under the symbol LAUR. Credit Suisse, Morgan Stanley, Barclays, Macquarie Capital, J.P. Morgan, BMO Capital Markets, Citi and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of January 30, 2017.
