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Carrollton software firm RealPage could raise $39 million more than initially planned in public offering this week [The Dallas Morning News](Dallas Morning News (TX) Via Acquire Media NewsEdge) Aug. 09--Carrollton-based RealPage Inc. expects to hold an initial public offering this week that could raise $189 million for the company -- more than originally predicted. The company makes software to manage apartments and other rental housing properties. When RealPage filed for an IPO earlier this year, it said it hoped to raise as much as $150 million. The software maker now plans to issue 13.5 million shares at a range of $13 to $15 per share, and it will list on the Nasdaq under the symbol RP. At that range, the company will have a market value of about $870 million. After the offering, chief executive and chairman Stephen Winn will own about 46 percent of RealPage's common stock, the company said in a filing with the Securities and Exchange Commission. RealPage got its start in 1998 as Seren Capital Acquisition Corp. and has operated in its current form since 2003. RealPage turned a profit in 2009 after years of losses. Sales reached $140.9 million, up from $112.6 million in 2008 and $83.6 million in 2007. Profit totaled $28.4 million last year, although $26 million of that was a tax benefit. In 2008, RealPage reported a $3.2 million loss and $3.1 million the year before. Through the first six months of 2010, RealPage reported sales of $86.2 million, up from $67.1 million in the first half of 2009. The company's employee count has almost doubled since the end of 2007, and stood at 1,260 at the end of June. To see more of The Dallas Morning News, or to subscribe to the newspaper, go to http://www.dallasnews.com. Copyright (c) 2010, The Dallas Morning News Distributed by McClatchy-Tribune Information Services. For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit www.mctinfoservices.com, e-mail [email protected], or call 866-280-5210 (outside the United States, call +1 312-222-4544) |