Axalta Coating Systems Ltd. has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common shares. Axalta is a leading global manufacturer, marketer and distributor of high performance coatings systems. The securities to be offered in the proposed initial public offering may include shares to be issued and sold by Axalta as well as shares to be sold by certain current shareholders of Axalta.
Axalta intends to use any net proceeds to it from the offering, plus cash on hand, for the repayment of indebtedness and to pay related fees and expenses.
Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P. Morgan are lead book-running managers for the proposed initial public offering. Additional book-running managers are BofA Merrill Lynch, Barclays, Credit Suisse and Morgan Stanley.
