Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Reval Holdings File For $75 Mln IPO

Reval Holdings Inc. Friday filed a statement with the Securities and Exchange Commission for an initial public offering of up to $75 million in common stock. Reval Holdings, a provider of cloud-based treasury and risk management software, did not disclose any details, including price range of the offering, number of shares offered, and its trading ticker symbol.

Reval plans to use the proceeds from offering for working capital and other general corporate purposes. The company said it may use a portion of the proceeds to acquire complementary technologies.

For 2011, the company recorded a loss of $17.3 million on total revenues of $45 million.

Reval provides comprehensive and integrated treasury and risk management solutions to over 550 clients in more than 20 countries. The company's clients include enterprises such as Bose, Ford, Microsoft, Starbucks Coffee, Tiffany & Co., and Visa.

The company listed Merrill Lynch, Pierce, Fenner & Smith Inc., Stifel, Nicolaus & Co. Inc., BMO Capital Markets Corp., Lazard Capital Markets LLC and Raymond James & Associates Inc. as underwriters.

In the filing, Reval said, "We have never declared or paid any dividends on our common stock. We anticipate that we will retain all of our future earnings, if any, for use in the operation and expansion of our business and do not anticipate paying cash dividends in the foreseeable future."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks are likely to jump sharply at the start of trading on Friday, extending the upward move seen over the course of the previous session. The major index futures are currently pointing to a substantially higher open for the markets, with the Dow futures up by 169 points. Eurozone inflation rose slightly in October but it remained consistently below 1 percent, signifying the risk of deflation in the currency bloc. At the same time, the unemployment rate held steady at an elevated level in September. Inflation rose marginally to 0.4 percent in October from 0.3 percent in September, flash data from Eurostat showed Friday. Russia's central bank lifted its key rate sharply by a bigger-than-expected 150 basis points to counteract the slide in ruble and rising inflation. The Bank of Russia decided on Friday to raise its key rate to 9.50 percent from 8 percent. The bank was expected to hike its rate by 50 basis points. This was the fourth interest rate increase this year.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.