Atkore International Group, which sells electrical circuitry raceways and metal frames used in commercial construction, announced terms for its IPO on Tuesday.
The Harvey, IL-based company plans to raise $252 million by offering 12 million shares (100% insider) at a price range of $20 to $22. At the midpoint of the proposed range, Atkore International Group would command a fully diluted market value of $1.4 billion.
Atkore International Group was founded in 1959 and booked $1.6 billion in sales for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol ATKR. Credit Suisse, Deutsche Bank, J.P. Morgan and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of June 6, 2016.
