Credit: Shutterstock photoAdvanced Disposal Services, a vertically integrated provider of solid waste collection, recycling and disposal services, announced terms for its IPO on Monday.
The Ponte Vedra, FL-based company plans to raise $450 million by offering 21.4 million shares (58% insider) at a price range of $20 to $22. At the midpoint of the proposed range, Advanced Disposal Services would command a fully diluted market value of $1.5 billion.
Advanced Disposal Services was founded in 2000 and booked $1.4 billion in sales for the 12 months ended September 30, 2015. It plans to list on the NYSE under the symbol ADSW. Deutsche Bank, Credit Suisse, Barclays, BofA Merrill Lynch, Macquarie Capital, Morgan Stanley and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of February 8, 2016.
The article Trash or treasure: Advanced Disposal sets terms for $450 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
