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Forterra prices IPO below the range at $18

October 19, 2016
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Forterra, which is a leading drainage and potable water pipe company in the US and Eastern Canada, raised $332 million by offering 18.4 million shares at $18, below the range of $19 to $21. Forterra plans to list on the Nasdaq under the symbol FRTA. Goldman Sachs, Citi, Credit Suisse, Barclays, Deutsche Bank and RBC Capital Markets acted as lead managers on the deal.