Shares of Evertec Inc rose as much as 10 percent in their market debut, valuing the payment processor at $1.75 billion a day after it priced its IPO at the top end of the expected price range. Puerto Rico-based Evertec priced its 25.3 million shares at $20 each, raising about $505 million. Shares of the company were expected to be priced in a range of $18 to $20. Evertec had previously intended to sell 21.1 million shares.Evertec is the latest company to be taken public by private equity firm Apollo Global Management LLC, which acquired it from Puerto Rican lender Popular Inc in September 2010. Apollo held a 51 percent stake in the company prior to the IPO, with Popular holding the rest.With the IPO, Apollo holds about 37 percent of Evertec and Popular owns 35.5 percent.Global equity fundraising rose 24 percent in the first quarter from a year ago, helped by strong markets and easing concerns about the economy that encouraged more companies to raise capital through IPOs and other capital market transactions.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO fell by 0.06% or $-0.0149/share to $25.43. In the past year, the shares have traded as low as $10.42 and as high as $27.56. On average, 786688 shares of APO exchange hands on a given day and today's volume is recorded at 156858.
Popular, Inc. (Popular) is a diversified, publicly owned bank holding company. Shares of BPOP fell by 0.51% or $-0.15/share to $29.24. In the past year, the shares have traded as low as $13.38 and as high as $29.78. On average, 972616 shares of BPOP exchange hands on a given day and today's volume is recorded at 181546.
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