Young & Rubicam Plans to Go Public

Young & Rubicam Inc., one of the nation’s largest marketing and advertising companies, filed to raise as much as $350 million through an initial public offering. The company and existing investors will sell common stock through the IPO, according to a registration statement filed with the SEC. The number of shares to be sold and their price will be included in a subsequent filing. New York-based Young & Rubicam’s affiliates include Young & Rubicam Advertising, the direct marketing firm Wunderman Cato Johnson, and Burson-Marsteller, a public relations business. Young & Rubicam will use the IPO proceeds to pay down bank debt. Underwriters for the stock sale will include Donaldson, Lufkin & Jenrette Securities Corp. and Bear, Stearns & Co. The company plans to have its shares trade on the New York Stock Exchange under the symbol YNR.