Apax Keeps 70% of Bankrate Following I.P.O.

Shares of private equity-backed Bankrate Inc. rose in their stock market debut on Friday, closing at $15.34, or 2.3% above their $15 IPO price. Apax Partners took the company private for $571 million in 2009. Following the IPO, the private equity firm remains the majority shareholder with approximately 70% ownership of Bankrate’s common stock. Bankrate publishes personal finance content online. The company is based in North Palm Beach, Florida.

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