ADESA RVs logoKAR Auction Services Inc., parent company of RV auction firm ADESA Inc., announced Thursday (Dec. 10) that the company has priced its initial public offering of 25 million shares of common stock at $12 per share, according to a news release.

The common stock of the Carmel, Ind.-based auction firm is expected to begin trading today (Dec. 11) on the New York Stock Exchange under the symbol “KAR.” The company has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of common stock on the same terms and conditions.

Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and J.P. Morgan are acting as the joint bookrunners for the offering. Barclays Capital and BMO Capital Markets are acting as lead managers for the offering. Baird, Barrington Research, BB&T Capital Markets, RBC Capital Markets and Stephens Inc. are acting as co-managers for the offering.

KAR Auction Services Inc. is the holding company for ADESA, Inc., a leading provider of wholesale used vehicle auctions whose operations span North America with 62 used vehicle sites; Insurance Auto Auctions, Inc., a leading salvage auto auction company whose operations span North America with 152 sites; and Automotive Finance Corporation, a leading provider of floorplan financing to independent and franchised used vehicle dealers with 87 sites across North America.