ADT, an Apollo-backed provider of monitored security services for homes and businesses, announced terms for its IPO on Friday.
The Boca Raton, FL-based company plans to raise $2.0 billion by offering 111.1 million shares at a price range of $17 to $19. At the midpoint of the proposed range, ADT would command a fully diluted market value of $14 billion.
ADT was founded in 1874 and booked $4.3 billion in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol ADT. Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank, RBC Capital Markets, Citi, BofA Merrill Lynch and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of January 15, 2018.
