RiskMetrics Group Inc., a New York-based provider of financial risk management and corporate governance products and services, has set its IPO terms to 14 million common shares being offered at between $17 and $19 per share. It would have an initial market cap of approximately $1.1 billion, were it to price at the high end of its range. The company plans to trade on the NYSE under ticker symbol RMG, with Credit Suisse, Goldman Sachs and Banc of America Securities serving as co-lead underwriters.
RiskMetrics spun out of JPMorgan in September 1998, and later completed a $122 million recapitalization sponsored by Spectrum Equity Investors (27.99% pre-IPO stake), General Atlantic (27.99%) and Technology Crossover Ventures (12.31%). TCV plans to purchase up to $10 million in common stock from the underwriters, as part of the IPO. www.riskmetrics.com