DJ Preston Hollow Community Capital Files for IPO
By Stephen Nakrosis
Preston Hollow Community Capital Inc. filed for an initial public offering on Tuesday.
The company said it provides "specialized impact financing solutions for projects of significant social and economic importance to local communities in the United States." Preston Hollow also said it uses its proprietary Social Impact Finance Framework to "actively craft transactions that address one or more of the United Nations Sustainable Development Goals and monitor impact performance over the life of the investment."
For the three months ended March 31, 2021, the company said it had net income of $32.5 million on revenue of $41.2 million. In the three months ended March 31, 2020, the company said it had net income of $8.4 million on revenue of 412.5 million.
The company didn't give an expected size for its IPO, nor did it give an anticipated price range.
Preston Hollow said it intends to apply to list its shares on the New York Stock Exchange.
J.P. Morgan, Barclays, UBS Investment Bank and Piper Sandler are listed as the offering's joint book-running managers, and Deutsche Bank Securities and Loop Capital Markets are listed as co-managers.
-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 06, 2021 18:00 ET (22:00 GMT)
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