Government consulting firm Booz Allen Hamilton Holding Corp. is looking to raise $300 million in capital through an initial public offering, according to a securities filing Monday.
Booz Allen, which has more than 23,000 employees and 1,300 clients across the U.S. government, generated revenue of $5.1 billion in the fiscal year ended March 31.
The McLean, Va.-based firm sold a majority stake in its government business to private equity firm Carlyle Group in 2008 for $2.54 billion, spinning off its commercial business into a separate company.
Booz Allen said it plans to use the proceeds of its IPO to pay down debt. The firm didn't disclose how many shares it would offer. The firm plans to list its shares under the ticker symbol "BAH."
Morgan Stanley, Barclays Capital, BofA Merrill Lynch and Credit Suisse are leading a large group of underwriters for the offering.
© Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.