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The Woodlands-based Huntsman Corp. (HUN) announced July 24 that its pigments and additives subsidiary has launched its initial public offering of 22.7 million shares. Venator Materials PLC’s IPO is expected to be priced between $20 and $22 per share, and Huntsman plans to grant the underwriters a 30-day option to purchase up to an additional 3.4 million shares. Before deducting the underwriting discount and estimated offering expenses, the IPO could raise up to $499.4 million, or $574.31 million if underwriters exercise their option in full, based on the expected price range.
Keith Mesiter's Corvex builds bigger Clariant stake
Huntsman (HUN) and Venator have completed the private offering of $375 million senior notes, marking a key step in the separation of the Pigments & Additives unit.