NEW YORK (AP) - Shares of TransUnion are climbing in morning trading after the credit rating company's initial public offering raised $664.8 million.
NEW YORK (AP) — Shares of TransUnion are climbing in morning trading after the credit rating company's initial public offering raised $664.8 million.
The Chicago-based company sold about 29.5 million shares for $22.50 a share, near the high end of its estimates. Its shares climbed $2.06, or 9.2 percent, to $24.56 in midday trading. They traded as high as $25.14 earlier.
The shares are trading under the symbol "TRU" on the New York Stock Exchange.
TransUnion provides consumer reports, risk scores and analytics to businesses, while consumers use TransUnion to view their credit profiles and manage personal information. It reported $1.3 billion in revenue in 2014, up 10 percent from the year before.
The company is one of the three largest credit reporting agencies in the U.S. along with Experian PLC and Equifax Inc. All three are now publicly traded.
According to IPO tracker Renaissance Capital, TransUnion is the fifth-largest U.S. IPO of 2015. Three of those five have come in June.
Earlier this month TransUnion said it expected to price its stock at $21 to $23 per share. The company said it will use the proceeds of the IPO to buy back debt.
Advent International Corp. and Goldman Sachs are retaining majority control of TransUnion after the IPO.