The firm set a placeholder amount of $100 million for the IPO,
without disclosing the size of the offering. (https://bit.ly/3kgwW4M)
In January, Reuters reported that Carlyle delayed the offering
of the German company following concerns that the coronavirus
outbreak would impact the valuation it could achieve.
Atotech makes specialty chemicals and equipment for printed
circuit boards and semiconductors and generates more than a
third of its revenues from the smartphone industry.
Bank of America, Citigroup, Credit Suisse and JPMorgan are the
lead underwriters to the offering.
Carlyle acquired Atotech in 2016 in a deal worth $3.2 billion,
including debt. The company was looking for a valuation of
around $5 billion, including debt, in its IPO, Reuters
previously reported.
(Reporting by Abhishek Manikandan in Bengaluru; Editing by
Sriraj Kalluvila)
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