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Business analytics firm Dun & Bradstreet close to launching $1 bln IPO -sources

June 8 (Reuters) - U.S. business analytics firm Dun & Bradstreet is preparing to launch an initial public offering that could raise up to $1 billion, the latest company to eye a listing after the coronavirus-induced economic downturn roiled the market for new stocks.

The IPO filing could be made public as early as this week, people familiar with the matter said, with Goldman Sachs Group Inc and Bank of America Corp leading the banking syndicate arranging the deal.

The sources requested anonymity ahead of an official announcement. Dun & Bradstreet did not respond to requests for comment. Representatives for Goldman Sachs and Bank of America declined to comment.

Dun & Bradstreet said on Jan. 30 it had privately registered its IPO with its U.S. Securities and Exchange Commission. Concerns about the spread of the novel coronavirus sent the stock market into a downward spiral in February and March, putting most IPOs on ice.

The impending IPO announcement underscores the extent to which companies are seizing on a sharp rebound in U.S. investor appetite for new stocks, with some eight companies going public last week and raising more money than originally planned.

Listing a piece of Short Hills, New Jersey-based Dun & Bradstreet would come less than 18 months after an investor group, led by former Blackstone Group Inc dealmaker Chinh Chu, took the company private for $6.9 billion including debt.

While the precise valuation the investor group is seeking for Dun & Bradstreet could not be learned, the IPO will aim to value the company above the buyout price, the sources said.

Dun & Bradstreet’s investor group also includes CC Capital Partners, Cannae Holdings Inc, Bilcar, Black Knight Inc and Thomas H. Lee Partners.

The company provides businesses with data and analytics services and has more than 5,000 employees in North America, Europe and Asia, according to its website. (Reporting by Joshua Franklin and David French in New York; Editing by Tom Brown)

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