Oaktree’s Neo Performance wraps up IPO, raises $220 mln
Neo Performance Materials Inc, an advanced materials supplier, has wrapped up the greenshoe option of its recent initial public offering in Canada. The option generated an additional $19.8 million, bringing the issue's total proceeds to about $220 million. The company's majority owner, U.S. distressed investor Oaktree Capital Management, accounted for the entire amount, leaving it with 65.7 percent of issued and outstanding shares. Toronto-based Neo Performance, which emerged from bankruptcy in 2016, commenced trading on the Toronto Stock Exchange under the symbol “NEO” in December.
8 January 2018•4 mins read
