Venator Materials Files for IPO

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Venator Materials has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No pricing details were listed in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its shares on the New York Stock Exchange under the symbol VNTR.

The sole underwriter for the offering is Merrill Lynch.

This leading global manufacturer and marketer of chemical products intends to improve the quality of life for downstream consumers and promote a sustainable future. Its products comprise a broad range of pigments and additives that bring color and vibrancy to buildings, protect and extend product life and reduce energy consumption.

The company markets its products globally to a diversified group of industrial customers through two segments: Titanium Dioxide, which consists of its TiO2 business, and Performance Additives, which consists of its functional additives, color pigments, timber treatment and water treatment businesses.

Venator is a leading global producer in many of these key product lines, including TiO2, color pigments and functional additives, a leading North American producer of timber treatment products and a leading European producer of water treatment products. It operates 27 facilities, employs approximately 4,500 associates worldwide and sells its products in more than 110 countries.

For the 12 months ended March 31, 2017, it had total pro forma revenues of $2,136 million.

The company will not receive any proceeds from this offering.