Bankrate, Inc. Celebrates Initial Public Offering and First Day of Trading on the New York Stock Exchange
June 17 2011 - 11:49AM
Business Wire
Bankrate, Inc., a leading destination site of personal finance
channels, opened for trading today on the New York Stock Exchange
under the ticker symbol “RATE” after its successful initial public
offering in which it raised a total of $300 million in gross
proceeds. President and CEO Thomas R. Evans, joined by the
company’s management team, visited the NYSE for the company’s first
day of trading.
Thomas R. Evans, President and CEO of
Bankrate, Inc. on the floor of the New York Stock Exchange as the
company’s stock opens for trading. (Source: NYSE Euronext
Photo)
“It’s an important day for Bankrate. We are pleased to be traded
on the New York Stock Exchange,” said Thomas R. Evans, President
and CEO of Bankrate, Inc. “Returning to the public markets after
going private is another significant milestone in Bankrate’s
35 year history. After diversifying our business and growing
revenues, we look forward to Bankrate’s next chapter as a public
company,” Mr. Evans, added.
"We welcome Bankrate, Inc. in joining the NYSE’s network of
premier companies,” said Scott R. Cutler, Co-Head of U.S. Listings
and Cash Execution, NYSE Euronext. As a leading provider of
Web-based personal finance and financial applications, Bankrate’s
suite of digital brands provides an innovative array of financial
rate data and content to consumers.” “We look forward to a lasting
partnership with the company and its shareholders.”
As of May 31, 2011, NYSE Euronext (NYX) led the U.S. market for
Initial Public Offerings (IPOs) and new listings both in total
capital raised as well as number of transactions for 2011, with
$23.4 billion in IPO proceeds raised on the New York Stock Exchange
through a total of 53 IPOS (including funds). Recent IPO
offerings include: Pandora Media, Inc. (P); Fusion-io (FIO);
Freescale Semiconductor (FSL); The Active Network (ACTV); and
LinkedIn (LNKD).
About Bankrate, Inc. (NYSE:
RATE)
The Bankrate network of companies includes Bankrate.com,
Interest.com, Mortgage-calc.com, Nationwide Card Services, InsureMe
CreditCardGuide.com, Bankaholic, CreditCards.com and NetQuote. Each
of these businesses helps consumers to make informed decisions
about their personal finance matters. The company's flagship brand,
Bankrate.com is a destination site of personal finance channels,
including banking, investing, taxes, debt management and college
finance. Bankrate.com is the leading aggregator of rates and other
information on more than 300 financial products, including
mortgages, credit cards, new and used auto loans, money market
accounts and CDs, checking and ATM fees, home equity loans and
online banking fees. Bankrate.com reviews more than 4,800 financial
institutions in 575 markets in 50 states. Bankrate.com provides
financial applications and information to a network of more than 75
partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE:
AOL), The Wall Street Journal and The New York Times (NYSE: NYT).
Bankrate.com's information is also distributed through more than
500 newspapers.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial
markets and provider of innovative trading technologies. The
company's exchanges in Europe and the United States trade equities,
futures, options, fixed-income and exchange-traded products. With
approximately 8,000 listed issues (excluding European Structured
Products), NYSE Euronext's equities markets – the New York Stock
Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca –
represent one-third of the world's equities trading, the most
liquidity of any global exchange group. NYSE Euronext also operates
NYSE Liffe, one of the leading European derivatives businesses and
the world's second-largest derivatives business by value of
trading. The company offers comprehensive commercial technology,
connectivity and market data products and services through NYSE
Technologies. NYSE Euronext is in the S&P 500 index, and is the
only exchange operator in the Fortune 500. For more information,
please visit: http://www.nyx.com.
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