UPDATE 2-Bain-backed Trinseo files for IPO of up to $400 mln
* Co files to list ordinary shares under symbol "TSE"
* Says Deutsche Bank, Goldman Sachs, Citi, Barclays lead underwriters (Adds details)
June 27 (Reuters) - Plastics maker Trinseo S.A., better known as Styron Corp, filed with U.S. regulators on Monday to raise up to $400 million in an initial public offering, making it the latest private equity-backed company to tap the public markets.
Trinseo joins a growing list of private equity-backed listings such as consumer research firm Nielsen Holdings , Florida lender BankUnited Inc , pipeline company Kinder Morgan Inc and hospital operator HCA Holdings Inc and others.
Bain Capital bought Styron for $1.63 billion from Dow Chemical Co in 2010.
The IPO would be an unusually quick exit for Bain, as buyout firms such as the company tend to hold investments for a few years.
Dow Chemical still has a 7.5 percent stake in the company.
In March, Reuters reported that the company was planning an IPO and was in the process of picking banks to lead the offering.
The company has 11 banks underwriting its IPO, which is being spearheaded by investment banking heavyweights such as Goldman Sachs, Citi, Deutsche Bank Securities and Barclays Capital.
Berwyn, Pennsylvania-centered Trinseo intends to use some of the net proceeds from the offering to repay its $1.4 billion term loan.
The holding company, which generated $5 billion in 2010 net sales and raked in a profit of $41.1 million, operates in Europe, Middle East, Asia Pacific, North America, and Latin America.
The company plans to list its ordinary shares under the symbol "TSE."
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Rachel Chitra in Bangalore; Editing by Joyjeet Das)