West Corp sets IPO price range at $22-$25 per share
March 11 (Reuters) - Private-equity backed West Corp said it expects its initial public offering of 21.28 million shares to be priced at between $22 and $25 each.
At the mid point of the expected price range, the company will raise up to $500 million in proceeds, a majority of which will be used to redeem its senior subordinated notes.
West Corp provides conferencing services and other communications technology and services to a variety of clients, including hospitals, public safety organizations and corporations.
The Omaha, Nebraska-based company expects to list on the Nasdaq under the symbol "WSTC", it said in an amended filing with the U.S. regulators.
The company, which first filed for an IPO in 2009, said that Goldman Sachs and Morgan Stanley are the lead underwriters for the offering.
The company, which was acquired in 2006 by a group led by private equity firms THL and Quadrangle Group LLC for $3.34 billion, reported net income of $125.5 million on revenue of $2.64 billion for 2012.
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