(Reuters) -The owner of the University of Phoenix is targeting a valuation of up to $1.2 billion in its U.S. initial public offering, it said on Tuesday, setting the stage for its stock market return after over eight years.
Some existing stockholders of Phoenix Education Partners are seeking up to $140.3 million by offering 4.25 million shares priced between $31 and $33 apiece.
The IPO pickup has broadened out to private equity deals, with a steady stream of sponsor-backed companies hitting the new listings market in recent months.
Morgan Stanley, Goldman Sachs, BMO Capital Markets, and Jefferies are the lead underwriters for the offering. Phoenix Education will list on the New York Stock Exchange under the symbol “PXED”.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Anil D’Silva and Shailesh Kuber)
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