Cummins' Business Unit Atmus Launches IPO For 4.124 Mln Shares

(RTTNews) - Atmus Filtration Technologies Inc., the filtration business unit of Cummins Inc. (CMI), announced on Tuesday that it has launched an initial public offering or IPO for its 4.124 million shares, which are currently owned by Cummins.

The underwriters will be granted a 30-day option to purchase up to an additional 2.11 million shares at the IPO price. The IPO price is currently expected to be in the range of $18 - $21 per share. Atmus has applied to list its stock on the New York Stock Exchange under the symbol 'ATMU.'

Upon completion of the IPO, Cummins is expected to hold around 83 percent of Atmus' outstanding shares.