Equipment rental company Neff files for IPO
Sept 3 (Reuters) - Industrial equipment rental company Neff Corp filed with U.S. regulators for an initial public offering of its Class A common stock on Wednesday.
Morgan Stanley, Jefferies, Piper Jaffray and BofA Merrill Lynch are among the main underwriters to the IPO, the Miami-based company told the U.S Securities and Exchange Commission in a preliminary prospectus.
The company intends to list its common stock under the symbol "NEFF", but did not specify the exchange. (1.usa.gov/1nY7JrK)
The filing included a nominal fundraising target of about $100 million, but did not reveal how many shares the company planned to sell or their expected price.
Neff filed for an IPO in 2006, only to withdraw it in 2007, after being bought by private equity firm Lightyear Capital for about $900 million, including debt.
The company, which counts United Rentals, Hertz Equipment Rental and Ahern Rentals among its competitors, filed for bankruptcy in May 2010, only to emerge from Chapter 11 proceedings in October that year.
Private equity firm Wayzata Investment Partners LLC took control of the company post the restructuring.
Neff reported a net loss of $17.4 million for the six months ended June 30, compared with a profit of $13 million a year earlier. Revenue rose about 13 percent to $170.1 million.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting by Avik Das in Bangalore; Editing by Simon Jennings)