PHILADELPHIA--(BUSINESS WIRE)--
Axalta Coating Systems Ltd. has commenced an initial public offering of
45,000,000 of its common shares. The shares will be offered by certain
affiliates of The Carlyle Group (the “selling shareholders”). The
anticipated initial offering price is between $18.00 and $21.00 per
share and the offering is being made pursuant to a registration
statement on Form S-1 previously filed with the U.S. Securities and
Exchange Commission. The selling shareholders have also granted the
underwriters a 30-day option to purchase up to an additional 6,750,000
common shares. Axalta will not receive proceeds from the offering,
including from any exercise by the underwriters of their option to
purchase additional common shares. Axalta has applied for listing of its
common shares on the New York Stock Exchange under the ticker symbol
“AXTA.”
Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P.
Morgan are lead book-running managers for the proposed initial public
offering. Additional book-running managers are BofA Merrill Lynch,
Barclays, Credit Suisse and Morgan Stanley. Co-managers are Jefferies,
UBS, Baird, BB&T Capital Markets, Nomura and SMBC Nikko.
Copies of the preliminary prospectus relating to the proposed initial
public offering may be obtained from Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone:
(800) 831-9146; Goldman, Sachs & Co., Attn: Prospectus Department, 200
West Street, New York, NY 10282, telephone: (866) 471-2526 or email: [email protected];
Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street,
New York, New York 10005, telephone: 800-503-4611 or email: [email protected];
and J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island
Ave., Edgewood, NY 11717 or telephone: (866) 803-9204.
A registration statement relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not
be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
This release contains certain forward-looking statements regarding
Axalta and its subsidiaries and the initial public offering of Axalta’s
common shares. All of these statements are based on management’s
expectations as well as estimates and assumptions prepared by management
that, although they believe to be reasonable, are inherently uncertain.
These statements involve risks and uncertainties, including, but not
limited to, economic, competitive, governmental and technological
factors outside of Axalta’s control that may cause its business,
industry, strategy, financing activities or actual results to differ
materially. Axalta undertakes no obligation to update or revise any of
the forward looking statements contained herein, whether as a result of
new information, future events or otherwise. The pricing information
presented herein has been provided for indicative purposes only, is an
estimate and remains subject to change.
AXALTA COATING SYSTEMS: BUILT FOR PERFORMANCE
Axalta is a leading global company focused exclusively on coatings and
providing customers with innovative, colorful, beautiful and sustainable
solutions. From light vehicle OEMs, automotive refinish and commercial
vehicles to electric motors, buildings and pipelines, our coatings are
designed to prevent corrosion, increase productivity and enable the
materials we coat to last longer. With more than 145 years of experience
in the coatings industry, the 12,000 people of Axalta continue to find
ways to serve our more than 120,000 customers in 130 countries better
every day with the finest coatings, application systems and technology.
For more information visit axaltacoatingsystems.com.
Source: Axalta Coating Systems Ltd.