Vantiv prices shares at $17 each for $500m IPO

Repaying loans

Vantiv, a payment processor that helps banks and merchants process credit and debit card transactions, intends to raise $500 million in its IPO, with 29.4 million shares priced at $17 each. The proceeds will be used to repay loans. Vantiv’s revenue grew 40% year-on-year in 2011, to $1.6 billion, and profit increased to $84.8 million from $54.9 million in 2010. Vantiv generates revenue from transaction fees paid by merchants of financial institutions every time it processes a credit or debit card. The underwriters of Vantiv’s IPO include JP Morgan, Morgan Stanley, Credit Suisse, Goldman Sachs and Deutsche Bank.

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