Phibro Animal Health, which manufactures food and medicine for farm animals, announced terms for its IPO on Monday. The Teaneck, NJ-based company plans to raise $200 million by offering 11.8 million shares (38% insider) at a price range of $16 to $18. At the midpoint of the proposed range, it would command a fully diluted market value of $653 million.
Phibro Animal Health, which was founded in 1946 and booked $662 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol PAHC. The company initially filed confidentially on January 13, 2014. BofA Merrill Lynch, Morgan Stanley and Barclays are the joint bookrunners on the deal.
