NEW YORK--(BUSINESS WIRE)--Bankrate, Inc., a leading destination site of personal finance channels, opened for trading today on the New York Stock Exchange under the ticker symbol “RATE” after its successful initial public offering in which it raised a total of $300 million in gross proceeds. President and CEO Thomas R. Evans, joined by the company’s management team, visited the NYSE for the company’s first day of trading.
“It’s an important day for Bankrate. We are pleased to be traded on the New York Stock Exchange,” said Thomas R. Evans, President and CEO of Bankrate, Inc. “Returning to the public markets after going private is another significant milestone in Bankrate’s 35 year history. After diversifying our business and growing revenues, we look forward to Bankrate’s next chapter as a public company,” Mr. Evans, added.
"We welcome Bankrate, Inc. in joining the NYSE’s network of premier companies,” said Scott R. Cutler, Co-Head of U.S. Listings and Cash Execution, NYSE Euronext. As a leading provider of Web-based personal finance and financial applications, Bankrate’s suite of digital brands provides an innovative array of financial rate data and content to consumers.” “We look forward to a lasting partnership with the company and its shareholders.”
As of May 31, 2011, NYSE Euronext (NYX) led the U.S. market for Initial Public Offerings (IPOs) and new listings both in total capital raised as well as number of transactions for 2011, with $23.4 billion in IPO proceeds raised on the New York Stock Exchange through a total of 53 IPOS (including funds). Recent IPO offerings include: Pandora Media, Inc. (P); Fusion-io (FIO); Freescale Semiconductor (FSL); The Active Network (ACTV); and LinkedIn (LNKD).
About Bankrate, Inc. (NYSE: RATE)
The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, InsureMe CreditCardGuide.com, Bankaholic, CreditCards.com and NetQuote. Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company's flagship brand, Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate.com is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate.com reviews more than 4,800 financial institutions in 575 markets in 50 states. Bankrate.com provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE: AOL), The Wall Street Journal and The New York Times (NYSE: NYT). Bankrate.com's information is also distributed through more than 500 newspapers.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the Fortune 500. For more information, please visit: http://www.nyx.com.
Annmarie Gioia, Media