Internet Retailer's parent company Vertical Web Media LLC launches B2BeCcommerceWorld.com, a website dedicated to business-to-business e-commerce news.
The retailer could raise about $467 million.
CDW Corp. once again plans to join the ranks of publicly traded companies. The computer parts and electronics retailer filed an initial public offering Friday with the U.S. Securities and Exchange Commission, aiming to raise $738 million by selling stock.
CDW, No. 13 in the Internet Retailer Top 500 Guide, says most of the net proceeds, which could total $467.4 million after paying for the underwriting and commissions from issuing the stock, will be used to pay down debt.
CDW intends to sell more than 23.2 million shares itself, while existing stockholders plan to sell more than 4.6 million shares. The retailer expects the price to be between $20 and $23 per share. CDW was last publicly traded between 1993 and 2007, when investors Madison Dearborn Partners and Providence Equity Partners bought it for $7.4 billion.
CDW would not comment on when its stock will be available for trading. The SEC must review the initial public offering prospectus and approve the plan, and no timetable is set for that process.
The prospectus reveals little about CDW’s e-commerce sales, but says that its overall 2012 sales were approximately $10.13 billion. Internet Retailer estimates its 2012 e-commerce sales were $3.1 billion, which would be just under 32% of total sales.
The companies underwriting CDW’s public filing include J.P. Morgan, Barclay’s Bank and Goldman Sachs.