Huntsman Announces that Venator Prices its IPO

Excerpt: Huntsman announced its subsidiary, Venator Materials PLC announced the pricing of its initial public offering (IPO) of 22,700,000 ordinary shares at an initial offering price of $20.00 per share

Huntsman Corporation (NYSE: HUN) announced its subsidiary, Venator Materials PLC (“Venator”) announced the pricing of its initial public offering (“IPO”) of 22,700,000 ordinary shares at an initial offering price of $20.00 per share for total gross proceeds (before underwriters’ fees and estimated expenses) of $454 million. All of the ordinary shares will be sold by Huntsman Corporation, and Venator will not receive any proceeds from the offering. Huntsman Corporation has granted the underwriters a 30-day option to purchase up to an additional 3,405,000 ordinary shares. Venator’s ordinary shares are expected to be listed, and begin trading, on the New York Stock Exchange on August 3, 2017 under the ticker symbol “VNTR.”

Upon closing of the offering, the public will hold approximately 21.4% of Venator’s ordinary shares, or 24.6% if the underwriters exercise in full their option to purchase additional ordinary shares. Huntsman will own the remaining 78.6% of Venator’s ordinary shares, or 75.4% if the underwriters exercise in full their option to purchase additional ordinary shares.

Citigroup, Goldman Sachs & Co. LLC, BofA Merrill Lynch and J.P. Morgan have acted as lead book-running managers for the offering. Additional book-running managers were Barclays, Deutsche Bank Securities, UBS Investment Bank and RBC Capital Markets. Co-managers were Moelis & Company, HSBC, Nomura, SunTrust Robinson Humphrey, Academy Securities and Commerzbank. The offering of these securities is being made only by means of a prospectus that meets the requirements of Section 10 of the Securi ties Act of 1933.

Copies of the final prospectus relating to the initial public offering may be obtained, when available, from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone: (800) 831-9146; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526 or email: prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or email: dg.prospectus_requests@baml.com; and J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone: (866) 803-9204.

About Huntsman

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2016 revenues of approximately $10 billion.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2016 revenues of approximately $10 billion. Its chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. The company has more than 100 manufacturing and R&D facilities in approximately 30 countries and employs approximately 15,000 associates within 5 distinct business divisions.

www.huntsman.com

Are you sure you want to

×