Caesarstone sets IPO terms, seeking $100 million

Caesarstone, which manufactures quartz surfaces for use in countertops and other interior spaces, announced terms for its IPO on Tuesday. The Israel-based company plans to raise $100 million by offering 6.7 million shares (15% insider) at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Caesarstone would command a market value of $485 million. Caesarstone, which was founded in 1987 and booked $260 million in sales in 2011, plans to list on the NASDAQ under the symbol CSTE. J.P. Morgan, Barclays and Credit Suisse are the lead underwriters on the deal.

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