TMS International, which provides outsourced industrial services to steel mills in North America, relaunched its IPO on Wednesday. The Glassport, PA-based company still plans to raise $200 million by offering 12.5 million shares at a price range of $15 to $17. At the mid-point of the proposed range, TMS International will command a market value of $554 million. TMS International, which was founded in 1926 and booked $2 billion in sales last year, had originally expected to price its IPO last month before temporarily shelving the deal. The outsourced steel services provider plans to list on the NYSE under the symbol TMS. BofA Merrill Lynch, Credit Suisse and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of April 11.
