The parent company of the University of Phoenix has filed for an initial public offering, marking the organization's return to the stock market after an eight-year hiatus.
Phoenix Education Partners plans to list its shares on the New York Stock Exchange and trade under the ticker symbol “PXED” with an IPO of 4.2 million shares priced between $31 and $33 each, according to a Sept. 29 regulatory filing.
The offering is expected to raise up to $140.3 million. At the midpoint of the proposed price range, Phoenix Education Partners would have a post-IPO valuation of $1.2 billion based on 35.6 million outstanding shares of common stock.
Read more of this story from the Business Journal.
