Industrial packaging maker Mauser Group has announced the start of the process to sell shares and list the company on the New York Stock Exchange.
In a regulatory filing with the U.S. Securities and Exchange Commission, Mauser said it would make an initial public offering (IPO) of 12.62 million ordinary shares, with the price currently expected to be between $20 and $22 per share. This would raise between $252 million and $278 million.
The underwriters have a 30-day option to purchase up to an additional 1.893 million ordinary shares from Mauser, meaning the total raised could potentially be up to $320 million.
Mauser Group is headquartered in Oosterhout, the Netherlands, and has around 4,500 employees at 98 factories in 18 countries. Group sales in 2015 were approximately 1.4 billion euros ($1.5 billion). The company first began releasing information on a potential IPO in 2015.
The group manufactures, distributes and reconditions plastic, metal and fiber packaging drums, and intermediate bulk containers.
Mauser is owned by U.S. private equity firm Clayton, Dubilier & Rice, which paid $1.7 billion in 2014 to buy the group from previous owner Dubai International Capital in the United Arab Emirates.
The IPO is likely to take place in late March or early April, according to the Reuters news service, reporting unnamed sources.