Valvoline prices IPO at $22, within the range

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Valvoline, a manufacturer of automotive lubricants and quick lube chain spun out of Ashland, raised $660 million by offering 30 million shares at $22, within the range of $20 to $23. Valvoline plans to list on the NYSE under the symbol VVV. BofA Merrill Lynch, Citi, Morgan Stanley, Deutsche Bank, Goldman Sachs and J.P. Morgan acted as lead managers on the deal.

The article Valvoline prices IPO at $22, within the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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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