Univar announces IPO on the NYSE
Chemical distributor Univar, Inc. (Downers Grove, IL – United States) announced that it has started the initial public offering (IPO) of 20’000’000 shares of common stock at an expected price range of USD 20.00 to 22.00 per share. To that effect a registration statement on Form S-1, as amended, has been filed with the U.S. Securities and Exchange Commission (SEC). This statement is not yet effective.
Univar said it intends “to use the proceeds of the offering and a concurrent private placement principally to redeem, repurchase, or otherwise acquire or retire USD 650 mn of its outstanding Subordinated Notes due in 2017 and 2018, pay associated fees and expenses, and for general corporate purposes.”
According to the statement, the underwriters have a 30-day option to purchase up to an additional 3’000’000 shares of common stock from certain of Univar’s shareholders.
Source: Univar press release
HGE – DCG / 08.06.2015