U.K. chemicals tech company Atotech files for U.S. IPO

/ / News

Atotech Ltd. , a U.K. chemicals technology company, filed for an initial public offering on Monday, with plans to list on the New York Stock Exchange, under the ticker ‘ATC.’ The company said it aims to raise up to $100,000, likely a placeholder sum until it sets terms and estimates fees and expenses. There are 12 banks underwriting the deal, led by Citigroup and Credit Suisse. Proceeds will be used to repay debt. The company had a loss of $311.8 million in the first nine months of 2020, after earnings of $12 million in the year-earlier period. Revenue edged down to $869 million from $877.4 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.