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Investing.com -- NIQ Global Intelligence Plc is expected to price its initial public offering around the midpoint of its marketed range, according to Bloomberg, citing people familiar with the matter.
The former consumer intelligence unit of Nielsen Holdings (NYSE:NLSN) is offering 50 million shares at a range of $20 to $24 each, as shown in a filing with the U.S. Securities and Exchange Commission.
At $22 per share, the middle of the range, the IPO would raise $1.1 billion. The offering is set to price Tuesday night.
NIQ, which has private equity firm Advent as its largest backer, stopped accepting IPO orders late Monday after generating demand for multiple times the available shares, according to sources who requested anonymity because the information is not public.
The sources noted that no final decisions have been made and the price could still change before the official announcement.
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