Research firm Morningstar announced Thursday that it has filed an initial public offering statement with the Securities and Exchange Commission to sell shares of common stock in the company.

While leaving the number of offered shares and the prices of those shares blank, MorningstarÂ’s filing did say that up to $100 million worth of stock can be sold. The public shares will be drawn from both Morningstar itself and one of its current shareholders, Softbank Finance Corp., according to the company.

Underwriting the offering will be Morgan Stanley, Deutsche Bank Securities and William Blair & Company.

Proceeds from the stock sales, according to the filing, will go toward working capital as well as to "provide liquidity for our shareholders, and facilitate our future access to public markets." While not divulging which symbol it would prefer to be known as, Morningstar did say in the filing that it intends to be listed on either Nasdaq or the New York Stock Exchange.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.