Investment bank Houlihan Lokey has filed for an initial public offering, planning to offer as much as $100 million in common stock, according to a regulatory filing with the Securities and Exchange Commission.
The shares will be sold by Orix USA, which owns the bank and is part of Japan-based Orix, and by Houlihan Lokey’s shareholders. Houlihan Lokey will list on the New York Stock Exchange under the ticker HLI.
Los Angeles-based Houlihan Lokey is well known for its work on mergers and acquisitions as well as bankruptcies. The firm’s illiquid financial assets practice is part of its corporate finance division and focuses in part on the secondaries market. It is co-headed by Jeffrey Hammer and Paul Sanabria.
Fee revenue from the firm’s corporate division were $367 million for the fiscal year ended 31 March, representing more than half of total fee revenue at Houlihan Lokey for the year.
Houlihan Lokey started a secondaries advisory practice in 2009 to capitalise on the increasing activity in the secondaries market.
The firm won’t receive any of the proceeds from the IPO, according to the filing.