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Metavante sets IPO terms
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September 11, 2000: 5:52 p.m. ET
Financial services co. files to sell 16.5M shares; sports equipment files for IPO
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NEW YORK (CNNfn) - Metavante Corp. filed with the Securities and Exchange Commission Monday to raise $198 million in an initial public offering while sports equipment maker Head NV filed for a new issue.
Metavante Corp. plans to sell 16.5 million shares at $11 to $13 each via joint book runners Donaldson Lufkin & Jenrette, Credit Suisse First Boston, and Salomon Smith Barney. Metavante originally filed for an IPO In July.
The 36-year-old Metavante Corp. provides services such as transaction processing, outsourcing, software and consulting to clients that lets them process transactions electronically, including the Web.
Brown Deer, Wis.-based Metavante targets primarily the financial services industry, catering to clients such as Washington Mutual Inc., FleetBoston Financial Corp., Bank of America Corp., and parent company Marshal & Ilsley Corp.
Metavante earned revenue of $289 million on net income of $20.6 million for the six months ended June 30.
Parent Marshal & Ilsley Corp. (MI: Research, Estimates) will own 84.1 percent after the IPO. Metavante is expected to trade under the proposed symbol "MVNT."
Head NV
Head NV plans to sell 14.58 million shares while existing shareholders are offering an additional 6.25 million shares. Price range is $10-to-$14 a share in an IPO that will trade on both the New York and Vienna stock exchanges.
CA IB Investment bank is joint global coordinator. Underwriters are expected to fix the final price for the shares on September 28 and trading is to begin in Vienna and New York on September 29.
Head NV is best known as the maker of racquets for tennis star Andre Agassi, as well as skis and boots. 
-- from staff and wire reports
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Metavante
Head USA
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