Alight postpones $800 million IPO

 
Bloomberg News

Lincolnshire-based human-resources and benefits-administration company Alight Friday postponed its plans for an initial public offering.

The company was aiming to raise as much as $800 million and had been marketing 32 million shares for $22 to $25 apiece, with final pricing expected Thursday.

The company, a spinoff of HR benefits giant Aon, was acquired by Blackstone Group in a deal valued at $4.8 billion in 2017.

"We have determined not to move forward with an IPO at this time," Alight said in an emailed statement confirming a report by Bloomberg News. "We look forward to continuing to deliver world-class human capital solutions and services to our clients."

Blackstone will hold onto Alight for now, said people familiar with the matter, who asked not to be identified as the details aren't public. A representative for Blackstone declined to comment.

Bank of America, JPMorgan Chase and Morgan Stanley were leading the IPO for the company.

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