CPI Card Group (NASDAQ: PMTS) expects to raise $299.8 million in its upcoming IPO. Based in Littleton, Colorado, CPI Card Group engages in the design, production, packaging, data personalization and fulfillment of financial payment cards.

We previewed PMTS' IPO last week on our premium platform.

PMTS will offer 17.64 million shares at an expected price range of $16 to $18. If the underwriters price the IPO at the midpoint of that range, PMTS will have a market capitalization of $858 million.

PMTS filed for the IPO on August 7, 2015.

Lead Underwriters: BMO Capital Markets, CIBC World Markets and Goldman Sachs

Underwriters: Griffith McBurney, Raymond James, Robert W. Baird, Scotia Capital Markets and William Blair & Co.

Business Summary: Provider of Financial Payment Cards

CPI Card Group Inc., engages in the design, production, packaging, data personalization and fulfillment of financial payment cards in conjunction with its subsidiaries. The company operates in three segments: U.S Prepaid Debit, u.s. Debit and Credit, and the U.K. Limited. The U.S. Prepaid Debit division provides integrated card services including tamper-evident packaging, card personalization and fulfillment services for prepaid debit card issues in the United States. The U.S. Debit and Credit division produces financial payment cards and offers services to card-issuing banks in the United States. Their products include both EMV and non-EMV credit cards, pre-paid debit cards and conventional debit cards as well as branded and private label credit cards and instant issuance systems. The U.K. Limited division primarily offers retail gift and loyalty cards for consumers in the United Kingdom and Europe as well as offering card personalization and fulfillment services.

Customers of CPI Card Group include regional and national banks, credit unions, independent community banks, group service providers, managers of prepaid programs and card processors in North America, the United Kingdom, Canada and Western Europe.