SelectQuote sets IPO terms, could be valued at up to $3.1 billion

SelectQuote, set terms for its initial public offering, as the online insurance broker looks to raise up to $475 million…

The company is offering 25 million share in the IPO, which is expected to price between $17 and $19 a share.

With 162.65 million shares outstanding after the IPO, the company could be valued at up to $3.09 billion.

The stock is expected to list on the NYSE under the ticker symbol “SLQT.”

Credit Suisse, Morgan Stanley, Evercore ISI and RBC Capital Markets are the lead underwriters.

The company recorded net income of $72.6 million on revenue of $337.5 million for the fiscal year ended June 30, 2019, up from net income of $34.9 million on revenue of…

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