Evertec, which is a leading full-service transaction processing service in Latin America and the Caribbean, announced terms for its IPO on Thursday. The San Juan, Puerto Rico-based company plans to raise $400 million by offering 21.1 million shares (69% insider) at a price range of $18 to $20. At the midpoint of the proposed range, Evertec would command a fully diluted market value of $1.6 billion.
Evertec, which was founded in 1988 and booked $342 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol EVTC. Evertec initially filed confidentially on 11/2/2012. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.
