A big Douglas County provider of engineering and technical information is renewing its bid to sell its stock publicly, according to a filing Thursday with the Securities and Exchange Commission.
IHS Inc., which provides standards and regulation data to energy, automotive and aerospace businesses, has yet to disclose the number of shares it will offer or when the sale will commence, said Sean Radcliffe, IHS assistant general counsel.
The company in May indefinitely postponed its IPO, citing a weak market and concerns about receiving a “comfortable” share price, said Jane Okun, senior vice president of investor relations.
IHS had hoped to raised $350 million by offering 15 million shares of Class A common stock at a price between $14.50 and $16.50 a share. The company’s underwriters are Goldman Sachs & Co., Citigroup, Morgan Stanley, UBS Investment Bank, KeyBanc Capital Markets and Piper Jaffray.
The company still intends to raise $350 million, which will go to its initial investors and not the company itself.
IHS plans to trade its shares on the New York Stock Exchange under the ticker symbol IHS.
IHS is well-positioned because it is going public on its own terms – not because it needs a cash infusion, said Su Hawk, president of the Colorado Software and Internet Association, a trade group.
“The market has stabilized, and we’ve seen more access to capital,” Hawk said.
IHS has 600 employees in Colorado among its more than 2,300 workers worldwide.
It was founded in Denver in 1959, and it is privately held by TBG Holdings, based in Europe. It competes with divisions of Thomson Corp. and Reed Else vier.
IHS posted $350 million in revenue for the nine months ending Aug. 31. It has little debt, Rad cliffe said.
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
