On Monday, July the 24th, Huntsman Corporation (NYSE: HUN) confirmed its subsidiary, Venator Materials, was launching an IPO. The global chemical company is dedicated to the development and manufacture of TiO2 or titanium dioxide. The company makes titanium dioxide performance additives and pigments. Venator Materials stock, which will trade under the symbol “VNTR”, will be listed on the New York Stock Exchange sometime in August.
The initial public offering will contain 22,700,000 ordinary shares with price per share expected to fall between $20 and $22. All of the shares will be sold by Huntsman and Venator will receive no proceeds from the offering. In addition to the aforementioned shares, Huntsman plans to give underwriters a 30-day option of purchasing up to 3,405,000 additional ordinary shares.
Goldman Sachs, BofA Merrill Lynch, JP Morgan, and Citigroup will act as lead book running managers for the offering. You can read more about the public offering here.
