Trinseo, a global manufacturer of specialty polymers and plastics, announced terms for its IPO on Monday. The company was founded in 2010 when Bain Capital bought Dow Chemical's Styron business unit for $1.6 billion. The Berwyn, PA-based company plans to raise $180 million by offering 10.0 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Trinseo would command a market value of $851 million. Trinseo originally filed to go public in June 2011 intending to raise up to $400 million, but withdrew in June 2013.
Trinseo, which booked $5.3 billion in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol TSE. Goldman Sachs, Deutsche Bank, Citi, Morgan Stanley, Barclays, BofA Merrill Lynch, HSBC and Jefferies are the joint bookrunners on the deal.
