WASHINGTON (dpa-AFX) - First Data Corp. on Monday filed an S-1 registration statement with the Securities and Exchange Commission for an initial public offering of shares of its Class A common stock.
The company did not reveal the size of the offering nor its estimated price range. The company also did not disclose the name of the exchange on which it wants to list its shares.
The maximum offering price is $100 million, which is used solely for calculating registration fee.
Upon consummation of the offering, the company will have two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion, and transfer restrictions applicable to the Class B common stock. Each share of Class A common stock will be entitled to one vote. Each share of Class B common stock will be entitled to ten votes and will be convertible at any time into one share of Class A common stock.
After the completion of the offering, affiliates of private equity firm Kohlberg Kravis Roberts & Co. L.P. (KKR) will continue to control a majority of the voting power of First Data's common stock.
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