The chemical company owned by Apollo Global Management, Taminco Corp recently announced that it would be selling 15.8 million shares priced between US$18 and US$20 in an IPO. At midpoint of the price range, the initial public offering is estimated at about US$300 million.
The proceeds from the IPO would be used to repay debt incurred by the firm. Taminco was purchased by the private equity firm at a cost of Eur1.1 billion or US$1.41 billion from its previous owners CVC Capital Partners back in 2011.
Taminco had previously tried to list its shares in the Brussels bourse in 2010. The previous prevailing market conditions was the cause of the IPO failure. Had it prevailed then, the IPO listing would have been the biggest in Belgium.
In documents filed with the US Securities and Exchange Commission, Taminco listed as lead underwriters banks Citigroup, Goldman Sachs, Credit Suisse, JP Morgan, Deutsche Bank, Morgan Stanley, Jefferies and UBS.
Join the Conversation