Venator Materials, which manufactures and sells titanium dioxide-based pigments and additives, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $200 million.
The The Woodlands, TX-based company was founded in 2017 and booked $2.3 billion in sales for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol VNTR. BofA Merrill Lynch is currently listed as the sole bookrunner on the deal. No pricing terms were disclosed.
