PHILADELPHIA – Axalta Coating Systems Ltd. has commenced an initial public offering (IPO) of 45 million of its common shares. The shares will be offered by certain affiliates of The Carlyle Group.
The anticipated initial offering price is between $18 and $21 per share and the offering is being made pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission. The selling shareholders also have granted the underwriters a 30-day option to purchase up to an additional 6,750,000 common shares. Axalta will not receive proceeds from the offering, including from any exercise by the underwriters of their option to purchase additional common shares. Axalta has applied for listing of its common shares on the New York Stock Exchange under the ticker symbol “AXTA.”
Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P. Morgan are lead book-running managers for the proposed IPO. Additional book-running managers are BofA Merrill Lynch, Barclays, Credit Suisse and Morgan Stanley. Co-managers are Jefferies, UBS, Baird, BB&T Capital Markets, Nomura and SMBC Nikko.
Copies of the preliminary prospectus relating to the proposed initial public offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone: (800) 831-9146; Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526 or email: [email protected]; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email:[email protected]; and J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717 or telephone: (866) 803-9204.
