Oaktree's Neo Performance adjusts IPO to raise $230 mln
Neo Performance Materials Inc, an advanced materials producer, has revised its recently filed initial public offering in Canada. The company, owned by U.S. distressed investor Oaktree Capital Management, said it will sell up to 12.8 million shares at $18 per unit, generating as much as $230 million in gross proceeds. It originally priced the offering, expected to close on December 8, to raise as much as $345 million. As reported by PE Hub Canada, Oaktree took control of Neo Performance when the Toronto-based company emerged from bankruptcy in 2016. The investor will account for all of the IPO's proceeds.
5 December 2017•4 mins read
