First Data Corp. Reportedly Plans To Raise $2.5 Bln In IPO

(RTTNews) - First Data Corp, the payments company with investors led by KKR & Co, plans to raise at least $2.5 billion in its initial public offering, making it the largest U.S. IPO this year, Bloomberg reported citing people familiar with the matter.

The stock could start trading by the end of this month. The price and timing are subject to change depending on stock-market volatility and how investors react to a pending roadshow, the report said.

The company had filed for an initial public offering in July.

First Data Corp was incorporated in Delaware in 1989 and was spun off from American Express in a public offering in 1992. On September 24, 2007, First Data Corp was acquired by affiliates of KKR that resulted in equity becoming privately held.