SS&C Technologies Holdings Inc. in Windsor said Wednesday it priced its initial public offering at the top of its expected range, raising $160.9 million, The Associated Press reports.
The company provides software and back-office services for the financial services sector. It follows two successful technology IPOs last week.
SS&C and its shareholders sold 10.7 million shares to initial investors for $15 each, the company said Wednesday. The stock had been expected to price from $13 to $15.
Private equity firm Carlyle Group, which acquired SS&C in 2005, retained all of its stake. It owns about 63 percent of shares outstanding after the IPO. It had said in a regulatory filing in December that it hoped to raise as much as $300 million.
Underwriters led by JPMorgan, Credit Suisse, Morgan Stanley and Deutsche Bank can buy another 1.6 million shares if there is excess demand for the stock.
SS&C expects shares to start trading Wednesday on the Nasdaq under the symbol “SSNC.”
The company had originally filed to go public in June 2007, before the financial crisis and recession dried up demand for IPOs.
