PQ Group Holdings has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were given in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its shares on the New York Stock Exchange under the symbol PQG.
The underwriters for the offering are Morgan Stanley, Goldman Sachs, Citigroup, Credit Suisse, JPMorgan, Jefferies, Deutsche Bank, Keybanc Capital Markets, Evercore ISI and Nomura.
This company is a leading global provider of catalysts, specialty materials and chemicals and services that enable environmental improvements, enhance consumer products and increase personal safety.
Its products and solutions help companies produce vehicles with improved fuel efficiency and cleaner emissions. Its materials are critical ingredients in consumer products that make teeth brighter, skin softer and wounds heal faster. PQ produces highly engineered materials that make highways and airports safer for drivers and pilots.
In the filing the company described its finances as follows:
For the year ended December 31, 2016, we generated sales of $1,064.2 million and pro forma sales of $1,403.0 million, a net loss of $(79.7) million and a pro forma net loss of $(57.7) million, and pro forma Adjusted EBITDA of $420.8 million, which represented a pro forma Adjusted EBITDA margin of approximately 30%.
PQ intends to use the net proceeds from this offering to pay down its indebtedness, with the remainder going toward working capital and general corporate purposes.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.