Springleaf Holdings, which provides non-prime consumer loans through a network of 834 offices and online, increased insider selling for its upcoming IPO on Friday. The Evansville, IN-based company now plans to raise $320 million by offering 20.0 million shares, 42% of which will be offered by insiders. The company had previously filed to offer the same number of shares but with only 40% offered by insiders.
Springleaf Holdings, which was founded in 1920 and booked $859 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol LEAF. BofA Merrill Lynch, Citi, Credit Suisse, Allen & Company and Barclays are the joint bookrunners on the deal. It is expected to price during the week of October 14, 2013.
