MatchGroup, the online dating business whose properties include Match.com and Tinder, said Monday morning that it plans to raise upwards of $467 million in an initial public offering that it expects to happen before Thanksgiving.
The New York-based company plans to offer 33.33 million shares at between $12 and $14 per share. It will trade on the NASDAQ under ticker symbol MTCH. Match Group would have an initial market cap just north of $3.1 billion, were it to price in the middle of its range. Most of the company would continue to be owned by current parent IAC/InterActiveCorp (IACI), via a triple-class stock structure.
J.P. Morgan, Allen & Co. And BofA Merrill Lynch will serve as lead underwriters on the IPO.
Match Group reports $85 million of net income on $753 million in revenue for the first nine months of 2015, compared to $100 million of net income on $649 million in revenue for the year-earlier period.