Chemicals manufacturer Orion Engineered Carbons sets terms for $405 million IPO

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Orion Engineered Carbons, a global producer of the chemical additive carbon black, announced terms for its IPO on Monday. The selling shareholders will provide the entire float and plan to raise $405 million by offering 18.0 million shares at a price range of $21 to $24. At the midpoint of the proposed range, Orion Engineered Carbons would command a market value of $1.3 billion.

Orion Engineered Carbons, which was founded in 2011 and booked $1.8 billion in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol OEC. Morgan Stanley, Goldman Sachs and UBS Investment Bank are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: OEC

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