CINCINNATI – Vantiv, the card processing giant, said it raised $535 million from last month’s initial public offering.
The card processor, formerly known as Fifth Third Processing Solutions, sold 31.5 million shares at $17 each in the IPO.
The company, which provides processing for more than 800 credit unions, is a joint venture between Fifth Third Bancorp and private equity firm Advent International of Boston.
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Like most payment companies and banks, the stablecoin firm is lining up a suite of services for demand that hasn't quite materialized, but likely will – in some form.
