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People & Business :: Earnings/Finance

Taminco seeks to raise $300 million from IPO

1:01 PM MDT | April 8, 2013 | Robert Westervelt

Apollo Management says it plans to sell 15 8 million shares, roughly a 24% stake, in amines producer Taminco as part of a planned initial public offering. The offering is being priced at $18–20/share and would raise $300 million if completed at the $19/share midpoint of that range, according to an SEC filing. The anticipated close of the IPO was not disclosed. Apollo acquired Taminco from CVC Capital Partners in February 2012 for $1.4 billion. Taminco will use proceeds to redeem the $250-million principal amount of its PIK Toggle Notes, pay a $35-million...

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