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DawnPhoenixon Oct 01, 2018 12:34pm
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Livent IPO Update
Livent IPO UpdateLivent, a lithium compound producer being spun out of FMC, announced terms for its IPO on Monday.
The Philadelphia, PA-based company plans to raise $380 million by offering 20 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Livent would command a fully diluted market value of $2.7 billion and an enterprise value of $2.7 billion.
Livent was founded in 1883 and booked $419 million in sales for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol LTHM. BofA Merrill Lynch, Goldman Sachs and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of October 8, 2018.
https://www.nasdaq.com/article/fmcs-lithium-unit-livent-sets-terms-for-380-million-ipo-cm1030268