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6 years ago
CORRECTED-UPDATE 1-Remy files for IPO of up to $100 mln
March 25, 2011 / 7:33 PM / 6 years ago

CORRECTED-UPDATE 1-Remy files for IPO of up to $100 mln

(Corrects to remove erroneous ticker from paragraph 1, drop extraneous word in 3rd bullet)

* Intends to list its common stock under the symbol "RMYI"

* Says JP Morgan, BofA Merrill Lynch, UBS investment bank underwriters of the IPO

* May use a portion of proceeds to reduce debt, acquire businesses (Adds details, follows alerts)

March 25 (Reuters) - Auto parts maker Remy International Inc has filed for an initial public offering of $100 million and intends to list its common stock under the symbol "RMYI".

The company, which sells starter motors, alternators, hybrid electric motors etc under Delco Remy, Remy and World Wide Automotive brand names, plans to use portions of the proceeds to reduce debt, acquires businesses and expand geographically.

Remy, with operations in North America, Europe, Latin America and Asia-Pacific, said JP Morgan, BofA Merrill Lynch and UBS investment bank will act as underwriters of the IPO. (Reporting by Rachel Chitra in Bangalore; Editing by Joyjeet Das)

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