Axalta Coating Systems Begins IPO Of 45 Mln Shares - Quick Facts

(RTTNews) - Axalta Coating Systems Ltd. has commenced an initial public offering of 45 million of its common shares. The shares will be offered by certain affiliates of The Carlyle Group or the "selling shareholders".

The anticipated initial offering price is between $18.00 and $21.00 per share. The selling shareholders have also granted the underwriters a 30-day option to purchase up to an additional 6.75 million common shares.

Axalta noted that it will not receive proceeds from the offering, including from any exercise by the underwriters of their option to purchase additional common shares. Axalta has applied for listing of its common shares on the New York Stock Exchange under the ticker symbol "AXTA."