Ceridian to launch on New York Stock Exchange with share price of $22

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fintech insurtech wealthtech regtech ai cybertech esg news

Human Capital Management software company Ceridian HCM Holding has released the pricing for its IPO.

This offering will see 21 million shares of common stock placed on the New York Stock Exchange at a price of $22 apiece. Alongside this, underwriters will have a 30-day option to buy an additional 3.1 million. The initial public sale is expected to close on April 30.

Ceridian is also looking to list its shares on the Toronto Stock Exchange; however, this is still subject to certain requirements. The company has until July 12 to meet the various necessities which includes the distribution of a minimum number of shares.

With the proceeds from the sale and a concurrent $100m private placement to redeem its $475m principal amount of its outstanding 11 per cent senior notes due 2021. It will also pay part of the interest on senior notes.

Ceridian is a human capital management company that helps businesses to manage their entire employee lifecycle, from onboarding to payroll. Its technology can help with processes including payroll, HR, benefits, talent management, workforce management, and customer experience.

Payroll teams can use its solutions to access real-time payroll to preview net pay, make edits and view results. Alongside this, users can improve their compliance processes, gain mobile access to payroll services, simplified reporting processes, tax management and verification services.

The company previously raised $150m from its shareholders Thomas H. Lee Partners and Fidelity National Financial Ventures (FNFV) Group in 2016.

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