Bankrate shareholders offer 10.5M shares to public


NEW YORK (AP) — Financial data publisher Bankrate Inc. said Tuesday that some of its stockholders are offering 10.5 million shares to the public at a price of $17.50 per share.

The underwriters were granted a 30-day option to purchase up to 1.6 million additional shares from certain selling stockholders at the same price.

Bankrate won't get any of the proceeds, which all will go to the selling stockholders.

Goldman, Sachs & Co.; BofA Merrill Lynch; Citigroup Global Markets Inc.; and J.P. Morgan Securities LLC are bookrunning managers of the offering. Allen & Company LLC and RBC Capital Markets are co-managers.

Bankrate publishes personal finance content on the internet.

Shares rose 26 cents, or 1.5 percent, to close at $17.69. They fell 4 cents after hours.

Since the company began trading as a public company in June, its shares have traded as high as $21.94. They've risen 6.6 percent the past three months.