Apax Selling Down Bankrate Stake
November 28, 2011- Share:
Apax Partners has filed to sell a 10.23 million of its 67.8 million Bankrate (NYSE: RATE) shares. The sale would reduce Apax's stake in the internet banking and personal finance information provider to 57.6%. Bankrate's stock is currently trading a couple of dollars above its $15 June IPO price at $18.31, valuing Apax's stake at approximately $1.2 billion
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