Aug 20 Axalta Coating Systems Ltd, a paint
coatings company backed by buyout firm Carlyle Group LP,
filed with U.S. regulators on Wednesday for an initial public
offering of common stock.
The company listed Citigroup, Goldman Sachs, Deutsche Bank
and JP Morgan among the underwriters for the IPO. (bit.ly/1wa9s6z)
Reuters reported last week that Carlyle had hired banks for
an initial public offering of Axalta that could raise as much as
$1 billion. (reut.rs/1nbjgDK)
The filing, which included a nominal fundraising target of
about $100 million, did not reveal how many shares the company
planned to sell or on which exchange it intended to list its
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 could be different.
Carlyle bought the performance coatings unit of chemical
maker Dupont for $4.9 billion in 2013 and later renamed
it Axalta Coating Systems.
Philadelphia-based Axalta makes liquid and powder coatings
for the automotive and general transportation industries. It
operates 35 manufacturing centers and does business in more than
(Reporting By Neha Dimri in Bangalore; Editing by Saumyadeb