Avantor prices IPO at $14, the low end of the revised range

Avantor, a LBO'd distributor and manufacturer of laboratory supplies and services, raised $2.9 billion by offering 207 million shares at $14, the low end of the revised range of $14 to $15. Avantor originally filed to raise $3.0 billion by offering 154 million shares at a range of $18 to $20. In addition, the company raised $900 million by offering 18 million mandatory convertible preferred stock.

Avantor plans to list on the NYSE under the symbol AVTR. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Barclays, Jefferies, Credit Suisse, Deutsche Bank, Evercore ISI, Guggenheim Securities, Morgan Stanley, UBS Investment Bank, Citi, Cowen, Piper Jaffray and RBC Capital Markets acted as lead managers on the deal.

The article Avantor prices IPO at $14, the low end of the revised 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's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts 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.

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