TCP International Holdings, a global maker of LED lights and compact fluorescent lamps (CFLs), announced terms for its IPO on Monday. The Cham, Switzerland-based company plans to raise $100 million by offering 7.1 million shares at a price range of $13 to $15. At the midpoint of the proposed range, it would command a fully diluted market value of $411 million.
TCP previously filed for a $100 million IPO in March 2012 but withdrew later that year in November. Its largest customers are Walmart ( WMT ) and The Home Depot ( HD ), which accounted for 26% and 18% of sales in the most recent quarter, respectively.
TCP International Holdings, which was founded in 1993 and booked $440 million in sales for the 12 months ended March 31, 2014, has been approved to list on the NYSE under the symbol TCPI. TCP initially filed confidentially on April 9, 2014. Deutsche Bank and Piper Jaffray are the joint bookrunners on the deal. It is expected to price the week of June 23, 2014.