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Apollo-backed Constellium files and sets terms for $400 million IPO
By: Renaissance Capital
Constellium, a global aluminum fabricator, announced terms for
its IPO on Monday. The Schiphol-Rijk, Netherlands-based company
plans to raise $400 million by offering 22.2 million shares (50%
insider) at a price range of $17 to $19. At the midpoint of the
proposed range, Constellium would command a fully diluted market
value of $1.8 billion.
Constellium, which was founded in 2011 and booked $4.6 billion in sales for the year ended December 31, 2012, plans to list on the NYSE under the symbol CSTM. Constellium initially filed confidentially on December 4, 2012. Goldman Sachs, Deutsche Bank, and J.P. Morgan are the joint bookrunners on the deal.