RailAmerica, the largest owner and operator of short line and regional freight railroads in North America, announced terms for its IPO on Tuesday. The Jacksonville, FL-based company plans to raise $357 million by offering 21 million shares at a price range of $16 to $18. At the mid-point of the proposed range, RailAmerica will command a market value of $924 million. RailAmerica, which was founded in 1985 and booked $460 million in revenue over the last 12 months, plans to list on the NYSE under the symbol RA. J.P. Morgan, Citi, Deutsche Bank and Morgan Stanley are the lead underwriters on the deal, which is expected to price on Monday, October 12.
