Bankrate Inc, a publisher of various web content on personal finance, has filed with the U.S. Securities and Exchange Commission for an initial public offering of up to $500 million on Friday.
North Palm Beach, Florida-based Bankrate runs various personal finance websites, including its flagship Bankrate.com, collecting and publishing rates and other financial data in areas including mortgages, car loans, banking fees and retirement savings.
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The company plans to use IPO proceeds to pay down debt.
Bankrate started as a "Bank Rate Monitor" newsletter in 1976, shifting onto the web in 1996, according to the website. In 2009, Bankrate was acquired by Ben Holding S.a.r.l. through a fund affiliated with a private equity firm Apax Partners LP [APAX.UL].
After posting a profit of $20 million in 2009, the company has operated at a loss in the past two years. It reported a loss of $43 million in 2009 and of $39 million in 2010, according to the filing.
Bankrate has not yet picked a symbol or a stock exchange to list its shares and provided no further details of the IPO.