http://247wallst.com/investing/2014/07/26/ipo-week-ahead-ge-spins-out-synchrony-in-a-whirl-of-22-ipo...
This week’s most closely watched IPO will be General Electric Co.’s (NYSE: GE) spin-off of its North American financial business into a new company called Synchrony Financial. GE plans to offer 125 million shares in Synchrony at an IPO price of $23 to $26. The IPO shares represent a stake of 15% in the company and is expected to raise $3 billion in gross proceeds, valuing the new company at around $20 billion. Joint book-running managers are Goldman Sachs & Co., J.P. Morgan, Citigroup, Morgan Stanley, Barclays, Bank of America Merrill Lynch, Credit Suisse and Deutsche Bank Securities. The underwriters have an option on an additional 18.75 million shares. Shares are expected to price on Wednesday and begin trading Thursday on the New York Stock Exchange (NYSE) under the ticker symbol SYF.
