PQ Group Holdings Plans $638 Million IPO for September 29th (PQG)
PQ Group Holdings (PQG) is planning to raise $638 million in an initial public offering on Friday, September 29th, IPO Scoop reports. The company will issue 29,000,000 shares at $21.00-$23.00 per share.
In the last twelve months, PQ Group Holdings generated $1.4 billion in revenue and had a net loss of $4.7 million. The company has a market cap of $2.8 billion.
Morgan Stanley, Goldman Sachs, Citigroup and Credit Suisse acted as the underwriters for the IPO and J.P. Morgan, Jefferies, Deutsche Bank Securities, KeyBanc Capital Markets, Evercore ISI and Nomura were co-managers.
PQ Group Holdings provided the following description of their company for its IPO: “We are a global provider of catalysts, specialty materials and chemicals, and services with leading supply positions across our portfolio. We compete in the global specialty chemicals and materials industry where we seek to focus on attractive, high-growth applications. Our products and services provide critical performance to our customers’ products and we are able to offer many of our customers regionally sourced materials to reduce costs and improve delivery logistics. We provide our customers with a combination of product technology and applications knowledge, global supply chain capabilities, and local production and logistical support. “.
PQ Group Holdings was founded in 2015 and has 2949 employees. The company is located at 300 Lindenwood Drive, Valleybrooke Corporate Center, Malvern, PA 19355, US and can be reached via phone at (610) 651-4400 or on the web at http://www.pqcorp.com.
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