Metals USA Holdings Corp. filed to come public this morning via an initial public offering. The company is taking the proposed ticker of "MUX" on NYSE. For filing purposes, it intends to sell up to $200 million in common stock.
The company is one of the largest metal service center businesses in the United States, and is a leading provider of value-added processed carbon steel, stainless steel, aluminum, red metals and manufactured metal components.
This is a private equity held company, and investment funds affiliated with Apollo Management, L.P. are the principal stockholders. Some proceeds will go to the company and some to shareholders, although those percentages have not been set. It also looks like the company will repurchase some or all of $300 million of senior floating rate notes with the proceeds.
Read the full story from 247WallSt.com.
Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.
Apollo's Metals USA coming public
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