Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, September 3, 2014

Equipment rental company Neff files for IPO, (NYSE: MS)

Industrial equipment rental company Neff Corp filed with U.S. regulators for an initial public offering of its Class A common stock on Wednesday. Morgan Stanley, Jefferies, Piper Jaffray and BofA Merrill Lynch are among the main underwriters to the IPO, the Miami-based company told the U.S Securities and Exchange Commission in a preliminary prospectus.The company intends to list its common stock under the symbol "NEFF", but did not specify the exchange. ( filing included a nominal fundraising target of about $100 million, but did not reveal how many shares the company planned to sell or their expected price.Neff filed for an IPO in 2006, only to withdraw it in 2007, after being bought by private equity firm Lightyear Capital for about $900 million, including debt.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.03% or $0.01/share to $34.56. In the past year, the shares have traded as low as $26.15 and as high as $34.65. On average, 8265930 shares of MS exchange hands on a given day and today's volume is recorded at 7151473.