PolyOne may raise up to $450M in offerings

PolyOne files shelf registration to raise $450 million in future stock or debt offerings

• On 3:14 pm EST, Wednesday November 4, 2009

CLEVELAND (AP) -- PolyOne Corp., which makes specialized plastics and resins for constructing buildings and vehicles, said Wednesday it may sell up to $450 million of stock, debt or other securities in one or more public offerings in the future.

PolyOne said it filed a universal shelf registration with the Securities and Exchange Commission expressing its intent.

The company said it did not have any immediate plans for an offering.

Shares of PolyOne increased 50 cents, or 8.7 percent, to $6.28 in afternoon trading.