GrafTech International, a vertically-integrated manufacturer of graphite electrodes used in steelmaking, announced terms for its IPO on Wednesday.
The Brooklyn Heights, OH-based company plans to raise $850 million by offering 37.8 million shares (100% insider) at a price range of $21 to $24. At the midpoint of the proposed range, GrafTech International would command a market value of $6.8 billion.
GrafTech International was founded in 1886 and booked $551 million in sales for the 12 months ended December 31, 2017. It plans to list on the NYSE under the symbol EAF. J.P. Morgan, Credit Suisse, Citi, RBC Capital Markets and HSBC Corporation are the joint bookrunners on the deal. It is expected to price during the week of April 16, 2018.
