Oaktree-owned Neo Performance Materials files to go public

Neo Performance Materials Inc, a Toronto-based producer of advanced materials, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The IPO, which has not yet been priced, contemplates a secondary sale of shares by U.S. private equity firm Oaktree Capital Management, the company's majority shareholder. Oaktree reportedly took control of Neo Performance, formerly known as Molycorp Inc, when it emerged from bankruptcy in 2016. Scotiabank and RBC Capital Markets are acting as joint book-runners for the IPO, and Cormark Securities is acting as co-lead underwriter.

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