AZ Electronic Materials Plans IPO

AZ Electronic Materials is planning a $400 million IPO on the London Stock Exchange, the company announced today. The proceeds will be used to recoup the investment of AZ's private equity owners, Carlyle Group and Vestar Capital Partners, who each own 41.8% of the company. Some of the proceeds will also go towards repaying part of AZ's debt. AZ had revenues of $610.6 million for the twelve months ended June 30, and generated EBITDA of $200.3 million during that timeframe, a 32.8% margin. The company will take the offering to institutional investors to determine...

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