Chemical maker Taminco to list shares in NY Stock Market; expects to raise $300 M

Chemical maker Taminco Corp. said that it expects to raise $300 million on its initial public offering of 15.8 million shares at $18 to $20 per share.

The company said the IPO proceeds will be used to pay off debts.

Taminco Corp. was bought by U.S. private equity firm Apollo from CVC Capital Partners in 2011. It tried to list its shares in Brussels in 2010 but difficult market conditions resulted in the failure of the IPO.

Listed as lead underwriters for the IPO are Citigroup, Goldman Sachs, Credit Suisse, J.P. Morgan, Deutsche Bank, Jefferies, Morgan Stanley and UBS. Fourteen banks are underwriting the offering.

Using the symbol 'TAM', the company said it will list its shares in the New York Stock Exchange.