Global Brass and Copper sets terms for $150 million IPO

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Global Brass and Copper Holdings, a fabricator and distributor of copper and brass products used in housing, transportation, and coinage, announced terms for its IPO on Monday. The Schaumburg, IL-based company plans to raise $150 million by offering 9.4 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Global Brass and Copper would command a fully diluted market value of $338 million.

Global Brass and Copper Holdings, which was founded in 2007 and booked $1.7 billion in sales for the 12 months ended 3/31/2013, plans to list on the NYSE under the symbol BRSS. Goldman Sachs and Morgan Stanley 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 Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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