As Ashland Inc. begins to shift its focus, the company has announced its decision to split the company in half by the end of the year. The company’s second half, Valvoline Inc., which is widely known for their lubricant and motor oil, could be offered up to investors in an upcoming initial public offering. The documents were filed on Tuesday and the result will see Valvoline traded under the ticker VVV on the New York Stock Exchange. In the filing, the company indicates their intention to raise around one million dollars from IPO, but things can change from then and now.

The company will put up 20% of their stock in the IPO, as the parent company, Ashland Inc., begins to focus more intently on specialty chemicals. The remaining 80% of the stock will be distributed to current Ashland shareholders. If investors approve of the deal, Ashland will head to Delware and will be reincorporated as Ashland Global Holdings Inc. for tax purposes. Ashland has been angling for the change for quite some time and sold off their stake in an oil refined, paving business and even a chemical distribution operation.

The company has gone on to purchase producers of specialty chemicals, including those utilized in pharmaceuticals. According to a recent filing, Valvoline amassed a net income last year of $196.1 million with an approximate total of $1.97 billion in sales. Plans for the IPO were originally announced in September of 2015 around the time Division President Sam Mitchell was shifted into the Valvoline CEO seat.

The Valvoline brand was established in 1866 and has remained a staple of American society ever since. With Valvoline’s line of motor oils and their quick oil change facilities, the company’s IPO is likely one of the most exciting within the past year. Investors will undoubtedly find themselves enamored by the stability and staying power of Valvoline. VVV is likely to emerge on the market this coming fall and it’ll definitely be something investors will want to keep an eye on.

I am a proficient writer and news enthusiast. I strive to remain consistently up to date with the on-goings in the world, especially with businesses and markets.