December 10, 2009 / 1:52 AM / 8 years ago

Financial Engines Inc files for $100 mln IPO

* Financial Engines Inc files for $100 mln IPO

* Plans to list on Nasdaq under symbol “FNGN”

NEW YORK, Dec 9 (Reuters) - Portfolio management services company Financial Engines Inc said it hopes to raise $100 million in an initial public offering.

Palo Alto, California-based Financial Engines provides retirement planning advice for individuals who are part of employer-sponsored retirement plans, the company said in a filing with the U.S. Securities and Exchange Commission on Wednesday.

Shareholders in the company include funds associated with venture capital investors Foundation Capital Leadership Fund and New Enterprise Associates, and private equity investor Oak Hill Capital Partners.

The company did not disclose details of the offering, but said it would use the proceeds to repay debt and for general corporate purposes.

Financial Engines posted revenues of $58.8 million in the nine months ended September 30, up 12.6 percent from $52.3 million a year ago. The company posted net income of $1.7 million, compared with a $1.5 million loss a year ago.

Financial Engines plans to debut on the Nasdaq under the symbol “FNGN”. The underwriters are led by Goldman Sachs & Co and UBS Investment Bank. (Reporting by Clare Baldwin; editing by Carol Bishopric)

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