Trinseo SA, which includes plastics units still operating under the Styron name, has seen a slight rise in its share price during its first week on the New York Stock Exchange.
Trinseo, with the stock ticker of TSE, entered the stock exchange on June 12 with 10 million ordinary shares priced at $19 per share.
By mid-day on June 16, it was selling at $20.35.
Underwriters will have a 30-day option to purchase up to an additional 1.5 million shares from Trinseo at the IPO price less then underwriting discount, the firm said.
The offering will be made only by means of a prospectus, the firms said.
Goldman, Sachs & Co., Deutsche Bank Securities Inc., Citigroup and Morgan Stanley & Co. L.L.C. are acting as joint book-running managers and the representatives of the underwriters, Trinseo said.
Barclays Capital Inc., BofA Merrill Lynch, HBSC Securities Inc. and Jefferies L.L.C. are acting as book-running managers, Berwyn, Pa.-based Trinseo said.
Mizuho Securities USA Inc., Scotia Capital Inc., SMBC Nikko Securities America Inc. and Wells Fargo Securities L.L.C. are acting as co-managers of the offering, Trinseo said.
Trinseo is a global materials company and manufacturer of plastics, latex and rubber. It is used in the home appliances, automotive, building and construction, carpet, consumer electronics, consumer goods, electrical and lighting, medical, packaging, paper and paperboard, rubber goods, and tire industries.
Trinseo began as Styron, and has announced plans to change the name of all Styron affiliated companies to Trinseo. Styron companies that have not completed the name-changing process at the start of the public trading will continue to do business as Styron until their respective name changes are complete, Trinseo said.
Trinseo said Styron’s operating companies currently continue to do business as Styron.