Monday, October 6, 2014

Zayo Group Sets IPO Range

Boulder-based bandwidth provider Zayo Group has moved one step closer to its IPO, saying this morning that it will offer up 28,900,000 shares of its common stock, and is now expecting its IPO price to be between $21.00 and $24.00 per share. Zayo has applied to list on the New York Stock Exchange (NYSE) as ZAYO. The IPO is being underwritten by Morgan Stanley, Barclays, and Goldman Sachs & Co., as well as RBC Capital Markets, Citigroup and SunTrust Robinson Humphrey. The IPO pricing range is one of the steps in the IPO process, and generally occurs as the company embarks on a road show to institutional investors interested in investing in the IPO. The next step is the actual pricing of the IPO, which occurs the evening before a company debuts on an exchange.