Alight, a Blackstone-backed provider of outsourced cloud-based HR services, announced terms for its IPO on Monday.

The Lincolnshire, IL-based company plans to raise $752 million by offering 32 million shares at a price range of $22 to $25. At the midpoint of the proposed range, Alight would command a fully diluted market value of $4.8 billion.

Alight was founded in 1940 and booked $2.4 billion in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol ALIT. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Barclays, BMO Capital Markets, Citi, Credit Suisse, Deutsche Bank and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of March 18, 2019.

The article Blackstone-backed Alight sets terms for $752 million IPO originally appeared on IPO investment manager Renaissance Capital's web site

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