July 11, 2011 / 10:01 PM / in 6 years

UPDATE 1-MacDermid Group Inc files for IPO of up to $200 mln

* To list shares on NYSE under symbol ‘MRD’

* Credit Suisse, Morgan Stanley, Deutsche Bank to lead offering

* To use proceeds to reduce debt (Follows alerts)

July 11 (Reuters) - Specialty chemicals products maker MacDermid Group Inc filed with U.S. regulators on Monday to raise up to $200 million in an initial public offering of its shares.

In a filing with the U.S. Securities and Exchange Commission, the company said Credit Suisse, Morgan Stanley, Deutsche Bank Securities, Stifel Nicolaus Weisel, Oppenheimer & Co and RBC Capital Markets would be underwriting the offering.

The company, a wholly owned subsidiary of MacDermid Holdings LLC, said it intends to list its shares on the New York Stock Exchange under the symbol “MRD.”

MacDermid intends to use the proceeds from the offering to reduce its debt.

The filing did not reveal the number of shares the company planned to sell or their expected price.

The Denver, Colorado-based company, which made a profit of $24 million in 2010, counts Citigroup-spin off Court Square Capital Partners and private equity firm Weston Presidio among its principal shareholders.

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Jochelle Mendonca in Bangalore; Editing by Joyjeet Das)

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