Refco last week filed an IPO registration statement with
Securities and Exchange Commission, revealing that its listing
could raise up to $575m. IPO watchers said the firm could be
preparing to list as early as May or June.
Tom Taulli, co-founder of CurrentOfferings.com, an IPO
analysis firm based in Newport Beach, California, told FO
Week that companies try to avoid IPOs during the slow
summer months. "They're probably trying to get this expedited
because they want to avoid launching in the summer doldrums,
typically July and August," Taulli said. "I suspect they'll try
to get this deal done before then."
Refco, which sold a 57% stake for $507m to Thomas H Lee
Partners last year (see FO Week Vol 9 No 23), said in
filings that it intends to use the IPO cash to redeem $210m in
senior subordinated notes as well as to finance any other
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