Lincoln International seeks up to $421 million in NYSE IPO
Business
Lincoln International, a Chicago-based investment bank, just announced it is heading to the New York Stock Exchange with an IPO that could value the company at up to $2 billion.
It is looking to raise up to $421 million by selling nearly 21 million shares, each priced between $18 and $20.
Lincoln IPO among largest since 2005
This is set to be one of the largest US investment bank IPOs in about 21 years: the last big one was Lazard back in 2005.
Boutique banks like Lincoln rarely go public; only a few have done it; for example, Moelis and Houlihan Lokey went public in 2014 and 2015, respectively.
The timing is interesting too: IPO activity is picking up this spring, making for the busiest week since 2021 as companies try to navigate today's unpredictable market.