NEW YORK Global Brass & Copper Holdings Inc.s (GBCs) initial public offering (IPO) is likely to take place this week, according to a company presentation.
The offering is expected to price the week of May 20 and include nearly 9.4 million shares, the Schaumburg, Ill.-based company said in the presentation.
The shares, which are expected to be listed under the ticker BRSS on the New York Stock Exchange, are expected to be priced between $15 and $17 apiece, the company said.
GBC first announced plans for an IPO in late 2011 (amm.com, Oct. 31, 2011), but it chose to hold off at that time. The company then filed an amended IPO prospectus with the U.S. Securities and Exchange Commission (SEC) last month, noting it might pursue acquisition opportunities following the IPO (amm.com, April 24).
The April filing estimated the size of the offering at around $172.5 million, although the presentation online lists the size as $150 million.
GBC, which operates 11 manufacturing facilities and distribution centers in North America, owns copper product producers Olin Brass Corp. and Chase Brass & Copper Co. LLC, as well as distributor A.J. Oster Group.