In what is rapidly becoming a hot IPO market Greenway is set to join eight other new stock offerings this week.
Greenway intends to issue roughly 6.7 million shares, priced between $11 and $13, to raise $80 million in capital. At $12.00 per share Greenway would have a market cap of $347 million. The firm’s NYSE ticker will be GWAY.
According the website IPOScoop.com Greenway currently has 530 employees and it has generated $99 million in revenue over the past twelve months. The IPO at $12.00 per share would value the company about 3.5 times trailing twelve month revenue. As a comparison Allscripts is currently trading at a price that values the company at 5.25 times trailing twelve month revenue.
It will be interesting to see how the initial offering is received and what happens to the stock over the coming months.