LPL Financial Files for $600M IPO
June 7, 2010- Share:
LPL Financial, a provider of brokerage, investment advisory and infrastructure services, has filed for a $600 million IPO under the symbol LPLA. Goldman Sachs, Morgan Stanley, BofA Merrill Lynch and JP Morgan will be underwriting the transaction, and net proceeds will be used in part to repay a portion of the company's term loans under its senior secured credit facilities. In 2006, Hellman & Friedman and TPG Capital participated in a $1.5 billion acquisition of a 60% stake in the company.
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