Huntsman Prices IPO Of Venator Materials At $20.00/shr

(RTTNews) - Huntsman Corp. (HUN) announced its subsidiary, Venator Materials PLC , a global chemical company dedicated to the development and manufacture of titanium dioxide pigments and performance additives, announced the pricing of its initial public offering of 22.70 million ordinary shares at an initial offering price of $20.00 per share for total gross proceeds, before underwriters' fees and estimated expenses, of $454 million.

All of the ordinary shares will be sold by Huntsman Corporation, and Venator will not receive any proceeds from the offering. Huntsman Corporation has granted the underwriters a 30-day option to purchase up to an additional 3.41 million ordinary shares.

Venator's ordinary shares are expected to be listed, and begin trading, on the New York Stock Exchange on August 3, 2017 under the ticker symbol "VNTR."

Upon closing of the offering, the public will hold approximately 21.4% of Venator's ordinary shares, or 24.6% if the underwriters exercise in full their option to purchase additional ordinary shares. Huntsman will own the remaining 78.6% of Venator's ordinary shares, or 75.4% if the underwriters exercise in full their option to purchase additional ordinary shares.