CHICAGO Constellium N.V.
expects to price company shares May 22 in an estimated
$400-million initial public offering (IPO), according to a
Another indication that an IPO
is imminent comes from a form F-1 registration statement filed
May 17 by Constellium Holdco BV with the U.S. Securities and
Exchange Commission that indicated a public sale would begin
"as soon as practicable" after the registration statement is
The shares, expected to be in a
range of $17 to $19 apiece, are expected to be listed under the
ticker symbol "CSTM" on the New York Stock Exchange and NYSE
Euronext Paris, the Constellium presentation indicated.
Dutch holding firm Constellium
Holdco expects to net approximately $180 million from the
initial public offering, according to a previous SEC filing (
amm.com, May 13). Constellium is expected to be
converted to a Dutch public limited liability company and
renamed Constellium NV before the offering is completed.
Constellium has three operating
segments: aerospace and transportation, packaging and
automotive rolled products, and automotive structures and
amm.com, April 11). It expects to benefit from
lightweighting in the automotive sector and strong customer
backlogs in the aerospace sector.
After the offering and a private
sale, Constellium expects public shareholders will hold 22.1
percent of ordinary shares; New York-based Apollo Global
Management LLC, 34 percent; London-based Rio Tinto Plc, 26
percent, Paris-based Fonds Stratégique
dInvestissement SA, 12.5 percent; and Frankfurt-based
Omega Management GmbH & Co. KG, 5.4 percent, according to
Constellium makes specialty
rolled and extruded aluminum products primarily for the
aerospace, packaging and automotive markets, according to the
registration statement filed with the SEC. It operates 26
production facilities worldwide and employs about 8,845 people,
the company said.