SS&C Technologies Inc., a Windsor, Conn.-based financial management software company owned by The Carlyle Group, raised around $160 million in its IPO.
The company priced nearly 10.73 million shares at $15 per share, compared to an offering range of between $13 and $15 per share. This represented a scaled-back version of SS&C’s original plans, as it had filed last December to raise $300 million. It had previously filed for, and withdrawn, a $200 million offering.
SS&C will trade on the Nasdaq under ticker symbol SSNC, with J.P. Morgan serving as lead underwriter. The Carlyle Group did not sell any shares in the offering, and now holds a 62.8% ownership stake.
It reported 2009 revenue of $270.9 million, which was off 3% from 2008. Net income for 2009 was $19 million, up slightly from $18.8 million in 2008. www.ssctech.com