Apax Partners divests partial stake in Bankrate, Inc
June 20, 2011
Subsidiaries of Funds advised by Apax Partners ("Apax") divested a partial stake in Bankrate, Inc. ("the Company"), a leading publisher, aggregator and distributor of personal finance content on the Internet, in the Company's initial public offering of 20 million shares of common stock, which was priced at USD 15.00 per share on 16 June 2011. Bankrate's shares began trading on 17 June 2011, on the New York Stock Exchange under the trading symbol "RATE" and closed at USD 15.34 per share after the first day of trading. The Apax Funds, amongst which Apax Europe VII in which NAXS is an investor, acquired Bankrate in August 2009.