April 4 Moelis & Co, the advisory firm set up by
veteran investment banker Ken Moelis, said it expects to price
its initial public offering of 7.3 million Class A shares at
between $26 and $29 per share, valuing the firm at up to $1.50
The New York-based independent investment bank's IPO is
expected to raise as much $212 million at the top end of the
price range. (r.reuters.com/faf38v)
The firm was founded in March 2007 after Ken Moelis left UBS
The offering will follow a dual-class share structure that
will allow the company's stockholders to retain a tighter
control over the company. The voting power of each Class B share
will be equal to ten votes per share as compared with a single
vote per Class A share.
Moelis & Co, which will continue to be led by the Wall
Street dealmaker, listed Goldman Sachs and Morgan Stanley as
lead underwriters to the offering.
The bank intends to list its stock on the New York Stock
Exchange under the symbol "MC".
(Reporting By Neha Dimri in Bangalore; Editing by Savio D'Souza
and Maju Samuel)