* Co files to list ordinary shares under symbol "TSE"
* Says Deutsche Bank, Goldman Sachs, Citi, Barclays lead
June 27 Plastics maker Trinseo S.A., better
known as Styron Corp, filed with U.S. regulators on Monday to
raise up to $400 million in an initial public offering, making
it the latest private equity-backed company to tap the public
Trinseo joins a growing list of private equity-backed
listings such as consumer research firm Nielsen Holdings
, Florida lender BankUnited Inc , pipeline
company Kinder Morgan Inc and hospital operator HCA
Holdings Inc and others.
Bain Capital bought Styron for $1.63 billion from Dow
Chemical Co in 2010.
The IPO would be an unusually quick exit for Bain, as buyout
firms such as the company tend to hold investments for a few
Dow Chemical still has a 7.5 percent stake in the company.
In March, Reuters reported that the company was planning an
IPO and was in the process of picking banks to lead the
The company has 11 banks underwriting its IPO, which is
being spearheaded by investment banking heavyweights such as
Goldman Sachs, Citi, Deutsche Bank Securities and Barclays
Berwyn, Pennsylvania-centered Trinseo intends to use some of
the net proceeds from the offering to repay its $1.4 billion
The holding company, which generated $5 billion in 2010 net
sales and raked in a profit of $41.1 million, operates in
Europe, Middle East, Asia Pacific, North America, and Latin
The company plans to list its ordinary shares under the
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 can be different.
(Reporting by Rachel Chitra in Bangalore; Editing by Joyjeet