(Reuters) – Atotech Ltd revived plans for a U.S. initial public offering, it said on Monday, as the Carlyle Group Inc-owned
The firm set a placeholder amount of $100 million for the IPO, without disclosing the size of the offering. (https://bit.ly/3kgwW4M)
In January, Reuters reported that Carlyle delayed the offering of the German company following concerns that the coronavirus outbreak would impact the valuation it could achieve.
Atotech makes specialty chemicals and equipment for printed circuit boards and semiconductors and generates more than a third of its revenues from the smartphone industry.
Bank of America, Citigroup, Credit Suisse and JPMorgan are the lead underwriters to the offering.
Carlyle acquired Atotech in 2016 in a deal worth $3.2 billion, including debt. The company was looking for a valuation of around $5 billion, including debt, in its IPO, Reuters previously reported.
(Reporting by Abhishek Manikandan in Bengaluru; Editing by Sriraj Kalluvila)
