Avantor goes public with $14 per share IPO

Avantor Inc. of Allentown has gone public with a $14 Initial Public Offering. (Photo submitted) –

Allentown-based Avantor Inc. went public on Friday with an initial public offering price of $14 per share.
The company’s common stock will trade under the ticker symbol AVTR.
Avantor is a supplier of ultra-high-purity materials for the life sciences and advanced technology industries.
The company is selling 207 million shares in hopes of raising $2.9 billion, which will be used to reduce debt. According to Bloomberg Inc. Avantor has about $9 billion in debt.
Shares were trading at $14.10 apiece as of 2:30 p.m.
The company was also offering 18 million shares of its Series A mandatory convertible preferred stock for $50 per share.
Goldman Sachs & Co. LLC and J.P. Morgan are serving as underwriters for the offerings.
Avantor has more than 12,000 employees in more than 30 countries.
It had 2018 revenue of approximately $6 billion and a net loss of $86.9 million.

Stacy Wescoe
Writer and online editor Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 4104. Follow her on Twitter and on Facebook.

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