J.G Wentworth Operator Seeks Up to $268 Million in U.S. IPO

Oct. 28 (Bloomberg) --JGWPT Holdings Inc., the firm that offers cash for settlements under the J.G. Wentworth brand, is seeking as much as $268.4 million in an initial public offering.

The company is offering 12.2 million Class A shares at $19 to $22 each, according to a regulatory filing today. The company had filed for an IPO of as much as $200 million earlier this month.

JGWPT, based in Radnor, Pennsylvania, is owned by private-equity firm JLL Partners Inc. Known for television ads that declare “It’s my money and I need it now,” the company buys rights to future payments from individuals and packages them as securities to sell to investors.

JLL Partners will remain JGWPT’s controlling shareholder after the IPO, with 56.6 percent of voting power, the filing shows. The firm and its affiliates will hold 7.3 million Class B shares which carry 10 votes per share, compared with one vote for each Class A share.

Barclays Plc and Credit Suisse Group AG are leading the IPO, and JGWPT has applied to list its Class A shares on the New York Stock Exchange under the symbol JGW, the filing shows.

To contact the reporter on this story: Mohammed Hadi in Hong Kong at mhadi1@bloomberg.net

To contact the editor responsible for this story: Jeffrey McCracken at jmccracken3@bloomberg.net

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