May 22 (Reuters) - Apollo-backed Dutch aluminum products maker Constellium Holdco BV priced its initial public offer of about 22 million shares at $15 per share, below its proposed price range, an underwriter told Reuters.
The company will sell half of the shares offered while shareholders, including Apollo and Anglo-Australian miner Rio Tinto, will sell the rest.
The IPO price values Constellium, previously known as Omega Holdco BV, at about $1.5 billion.
The company had planned to price the IPO at $17 to $19 per share.
Constellium makes aluminum products for the aerospace, packaging and automotive industries and operates 26 production facilities in the United States, Europe and China.
The company was created after Rio Tinto acquired Canadian aluminum producer Alcan Inc for $38 billion in 2007. The miner divested part of Alcan’s engineered products division in 2011, later naming it Constellium.
The company listed Goldman Sachs, Deutsche Bank Securities and J.P. Morgan as lead underwriters to the offering.
Constellium is expected to debut on Thursday on the New York Stock Exchange under the symbol “CSTM.” (Reporting By Neha Dimri in Bangalore; Editing by Joyjeet Das)