HD Supply, a diversified industrial distribution company in North America, announced terms for its IPO on Thursday. The Atlanta, GA-based company plans to raise $1.25 billion by offering 53.2 million shares at a price range of $22 to $25. At the midpoint of the proposed range, HD Supply would command a fully diluted market value of $4.5 billion. The deal size would be the fourth largest in 2013, behind Pfizer spinoff Zoetis (ZTS, $2.23 billion), life insurance and investment firm ING US (VOYA, $1.27 billion), and Brazilian cement company Votorantim Cimentos (VEBM), $3.41 billion), which is scheduled to price in June.
HD Supply, which was founded in 1985 and booked $8.3 billion in sales for the 12 months ended May 5, 2013, plans to list on the NASDAQ under the symbol HDS. BofA Merrill Lynch, Barclays, J.P. Morgan and Credit Suisse are the lead bookrunners on the deal. Citigroup, Deutsche Bank Securities, Goldman Sachs, Morgan Stanley, UBS Investment Bank, and Wells Fargo Securities are also serving as bookrunners on the deal.
