RSC Holdings filed Friday with regulators to offer about 20.83 million shares of its common stock at $23 to $25 per share in an initial public offering.

The company expects net proceeds of about $278.8 million from the offering. It plans to use the proceeds to repay debt and for general corporate purposes.

The underwriters — Morgan Stanley, Deutsche Bank and Lehman Brothers — have a 30-day option to purchase up to 3.1 million additional shares. The company said total shares outstanding after the offering would be about 103.1 million and RSC’s market capitalization would be about $2.48 billion based on $24 a share. RSC Holdings has applied to list the stock on the New York Stock Exchange under the ticker symbol of RRR.

RSC is currently owned by Oak Hill Capital Partners and Ripplewood Holdings. Each is expected to hold a 34-percent ownership in the company after the IPO.

The Scottsdale, Ariz.-based rental company is No. 3 on the soon-to-be-published new RER 100, with reported total revenue of $1,652.9 million for 2006.