TriNet Group, which provides outsourced human resources services to small and medium-sized businesses, announced terms for its IPO on Friday. The San Leandro, CA-based company plans to raise $240 million by offering 15 million shares at a price range of $15 to $17. At the midpoint of the proposed range, TriNet Group would command a fully diluted market value of $1.2 billion. TriNet Group, which was founded in 1988 and booked $1.6 billion in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol TNET. J.P. Morgan, Morgan Stanley and Deutsche Bank are the joint bookrunners on the deal.
