Allentown-based Taminco Corp. went public today with an initial offering of 15.79 million shares of common stock offered at $15 a share.
The stock, trading on the New York Stock Exchange under the symbol “TAM,” was at $14.44 a share in late morning. The offering is expected to close on April 23.
The chemical company says it is the world’s largest “pure play producer of alkylamines and alkylamine derivatives.” It employs about 800 people and operates in 19 nations with seven production facilities in the United States, Europe and Asia.
Its products are used by customers in the manufacturing of everyday products – primarily for the agriculture, water treatment, personal and home care, animal nutrition and oil and gas end-markets. Taminco’s products provide these goods with a variety of ancillary characteristics to improve performance, such as neutralizing acidity and removing contaminants.
In 2012, Taminco generated revenue of $1.1 billion, with adjusted earnings before interest, taxes, depreciation and amortization of $240 million.