Reuters: Global Markets: Bain Capital-backed Bright Horizons shares surge in debut

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Bain Capital-backed Bright Horizons shares surge in debut Jan 25th 2013, 14:59 Fri Jan 25, 2013 9:59am EST (Reuters) - Bain Capital-backed Bright Horizons Family Solutions Inc's (BFAM.N) shares rose as much as 29 percent in their market debut on the New York Stock Exchange. The child care and early education services provider had priced its offering of 10.1 million shares at $22 per share, raising $222 million. It had expected to price them between $19 and $21 per share. At the IPO price, the company is valued at $1.38 billion. Founded in 1986, Bright Horizons provides employer-sponsored child care and early education programs, and manages child care centers for companies, hospitals, universities and government agencies. The Watertown, Massachusetts-based company, which has operations in North America, Europe and India, also offers college counseling and other services for working families. Bain Capital, which did not sell any of its shares in the offering, will continue to maintain an about 80 percent stake in the company. Shares of the company were trading at $28.14 in early Friday trading on the New York Stock Exchange. (Reporting by Tanya Agrawal in Bangalore; Editing by Roshni Menon) Link this Share this Digg this Email Reprints

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