Penson to raise $100m through IPO

Penson to raise $100m through IPO

US securities trading and processing firm Penson Worldwide has filed for a $100 million IPO with the Securities and Exchange Commission.

Terms have not yet been set for the offering, which willl be led by underwriters JP Morgan Securities and Credit Suisse First Boston.

Penson says it will use the capital to support the expansion of its correspondent base, to repay debt, to boost existing capital resources and for general corporate purposes.

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