Apollo-backed aluminum products maker Constellium files for IPO

Mon May 13, 2013 1:25pm EDT

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May 13 (Reuters) - Apollo-backed Dutch aluminum products maker Constellium Holdco BV said it expects to raise as much as $422 million from its initial public offering.

The company plans to price the offering of 22.2 million class A ordinary shares at between $17 and $19 per share, according to a regulatory filing with the U.S. Securities and Exchange Commission. (link.reuters.com/wyq97t)

Constellium will sell half the shares in the IPO and shareholders, including Apollo and Anglo-Australian miner Rio Tinto, will sell the rest.

The company, previously known as Omega Holdco BV, makes aluminum products for the aerospace, packaging and automotive industries and operates 26 production facilities in the United States, Europe and China.

The filing said Constellium is one of the only two suppliers of aluminum products to the aerospace market with facilities in both the United States and Europe.

This gives the company an advantage in supplying to key customers including Airbus SAS and Boeing Co among its customers and expects to use the proceeds for capital expenditures, repayment of debt and for short-term investments.

Constellium, whose competitors include Alcoa Inc, Novelis Inc and Aleris International Inc, intends to list its common stock on the New York Stock Exchange and Euronext Paris under the symbol "CSTM."

Reuters reported in March that Constellium was in talks with banks for an initial public offering.

The company, which reported revenue of 3.61 billion euros ($4.69 billion) for the year ended Dec. 31, listed Goldman Sachs, Deutsche Bank Securities and J.P. Morgan as lead underwriters to the offering.

Funds affiliated to Apollo Group will have a 32.5 percent stake in the company after the IPO, while Rio Tinto will retain 25 percent ownership on completion of the offering.

Two other Apollo-backed companies, organic grocer Sprouts Farmers Markets LLC and jewelry and accessories retailer Claire's Inc, filed plans to go public this month. ($1 = 0.77 euros) (Reporting By Neha Dimri in Bangalore; Editing by Joyjeet Das)