Dec 24 Private equity-owned Continental Building
Products Inc, created after the sale of Lafarge SA's
North American gypsum business, filed with regulators to raise
up to $200 million in an initial public offering of common
France's Lafarge sold its gypsum business in North America
to U.S. investment firm Lone Star for $700 million in June as
part of the world's largest cement maker's efforts to shed
non-core assets to cut debt.
Continental Building listed Citigroup and Credit Suisse as
joint book-running managers in a regulatory filing with the U.S.
Securities and Exchange Commission on Tuesday. ()
The company manufactures gypsum wallboard, which is
primarily a building material used in new residential and
Continental Building, whose operations are concentrated in
the eastern United States and Canada, had net sales of $287.9
million in the year ended Sept. 30, it said in the IPO filing.
For the year through Oct. 31, building permits within the
company's key markets grew about 41 percent over 2012, the
filing said, citing U.S. Census Bureau data.
The filing did not reveal how many shares the company
planned to sell or their expected price. It intends to list its
common stock on the New York Stock Exchange under the symbol
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.