June 9 2015, David R Brown
Univar Inc. announces the launch of its Initial Public Offering
Global chemical distributor, Univar Inc., has announced that it has commenced an initial public offering of 20,000,000 shares of common stock pursuant as filed with the U.S. Securities and Exchange Commission (SEC). The IPO had originally been intended for earlier in the year but had been put back to Q2 2015 because of market volatility caused by the recent fall in oil prices and its impact on the North American oil and gas industry.
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The initial public offering price is currently expected to be between $20.00 and $22.00 per share. The underwriters have a 30-day option to purchase up to an additional 3,000,000 shares of common stock from certain of our stockholders.
The company says it intends to use the proceeds of the offering and a concurrent private placement principally to redeem, repurchase, or otherwise acquire or retire $650 million of its outstanding Subordinated Notes due in 2017 and 2018, pay associated fees and expenses, and for general corporate purposes.
Deutsche Bank Securities, Goldman, Sachs & Co., and BofA Merrill Lynch are acting as joint book-running managers. Additional book-running managers are Barclays Capital Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Jefferies LLC, and Morgan Stanley & Co. LLC.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the securities being offered may be obtained, when available, from Deutsche Bank Securities Inc or Goldman, Sachs & Co.
About Univar
Founded in 1924, Univar is a leading global chemical distributor of industrial and specialty chemicals and related chemistry services. Univar sources from over 8,000 producers worldwide and provides its customer base, made up of 133,000 customers, with a full portfolio of specialty products. Univar operates a network of over 700 distribution facilities throughout North America, Europe, the Asia-Pacific region, and Latin America, with additional sales offices located in Eastern Europe, the Middle East, and Africa.
Source(s): Univar Press release
Further Information
Visit: http://www.univar.com