Ceridian HCM Holding, which provides enterprises with human capital management software, announced terms for its IPO on Thursday.
The Minneapolis, MN-based company plans to raise $420 million by offering 21 million shares at a price range of $19 to $21. Insiders intend to purchase $75 million worth of shares in the offering and $100 million in a concurrent private placement. At the midpoint of the proposed range, Ceridian HCM Holding would command a fully diluted market value of $2.8 billion and an enterprise value of $3.3 billion.
Ceridian HCM Holding was founded in 2013 and booked $671 million in sales for the 12 months ended December 31, 2017. It plans to list on the NYSE under the symbol CDAY. Goldman Sachs, J.P. Morgan, Credit Suisse, Deutsche Bank, Barclays, Citi, Jefferies, CIBC and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of April 23, 2018.
