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Article: United States: RailAmerica set for IPO next week.
- Article from:
- TendersInfo
- Article date:
- October 10, 2009
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RailAmerica Inc. is set to go public next week, potentially giving private-equity funds a payday, while the short-line railroad operator pays down debt and grows its business.
The Jacksonville, Florida-based company expects to sell about 21 million shares in the offering for $16 to $18 apiece. Half of those shares will be sold by the company, while the other half will be sold by private equity funds managed by a unit of Fortress Investment Group LLC the firm that took the company private in 2007. Those funds will own nearly 58 percent of the company's stock after the offering.
The stock is expected to begin trading on Tuesday on the New York Stock ...