First Data Could Raise Nearly $4 Billion Through Its IPO

First Data Corp. could raise close to $4 billion in its initial public offering, the payment processing company disclosed in a regulatory filing on Thursday. The company said it is offering 160 million shares at a range of $18 to $20, which at the top of the range would total $3.2 billion. The stock will be listed on the NYSE under the ticker symbol "FDC." If the underwriters exercise their options to purchase up to an 24 million additional shares, First Data could raise up to $3.68 billion. First Data plans to use the proceeds to pay down debt and for other general corporate purposes. After the IPO is completed, Kohlberg Kravis Roberts & Co. will still have majority control of the company. Citigroup, Morgan Stanley, Bank of America Merrill Lynch and KKR are the joint book-running mangers of the IPO.