Bain-backed Trinseo files IPO up $ 400 million
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Bain-backed Trinseo files for IPO of up to $ 400 million

1:18 PM, 30th June 2011
Bain-backed Trinseo files for IPO of up to $ 400 million


NEW YORK, US: Plastics maker Trinseo S A, better known as Styron Corp, filed with US regulators on Monday to raise up to $ 400 million in an initial public offering (IPO), making it the latest private equity-backed company to tap the public markets.

Bain Capital bought Styron for $ 1.63 billion from Dow Chemical Co in 2010. Dow Chemical still has a 7.5 per cent stake in the company. The IPO would be an unusually quick exit for Bain, as buyout firms such as the company tend to hold investments for a few years.

The company has 11 banks underwriting its IPO, which is being spearheaded by investment banking heavyweights such as Goldman Sachs, Citi, Deutsche Bank Securities and Barclays Capital.

Berwyn, Pennsylvania-centered Trinseo intends to use some of the net proceeds from the offering to repay its $ 1.4 billion term loan.

The holding company, which generated $ 5 billion in 2010 net sales and raked in a profit of $ 41.1 million, operates in Europe, Middle East, Asia Pacific, North America, and Latin America.

The company plans to list its ordinary shares under the symbol “TSE.” The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different.

(C) Reuters




Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Fluor awarded EPCM contract for Woodside’s Gas Assets in Australia

  TEXAS, US: Fluor Corporation announced that it has finalized a major services agreement with Woodside Energy Limited to provide engineering, p ...

Read more
Layer upon layer

A new method that holds promise for making two- or three-tier graphene films that could be used for new electronic devices. CAMBRIDGE, US: Graphene, ...

Read more
Brain chemistry linked to source of stress disorders

LEICESTER, UNITED KINGDOM: An innovative Medical Research Council funded study has revealed new targeted treatment opportunities for stress-related me ...

Read more
Showa Denko to increase high-purity ammonia capacity at 3 sites

TOKYO, JAPAN: Showa Denko K K (SDK) will increase its production capacity for high-purity ammonia to meet growing demand from the electronics industry ...

Read more
BASF and EMBRAPA joint venture for R&D in Brazil

Latest agreement will speed up development and introduction of new technologies and solutions for Brazilian agriculture. Initial project will bring ...

Read more
The genius of a disorderly enzyme

USC Dornsife researchers uncover how the inefficiency of activation-induced deoxycytidine deaminase is good for your immune system. LOS ANGELES, US: ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X