Univar Inc., priced its initial public offering at $22 per share on Wednesday, valuing the U.S. chemical distributor at about $3.03 billion. Reuters reported.
The IPO raised $770 million, after the initial public offering of 35 million shares was priced at the top end of the expected price range.
Univar said it would sell 20 million shares and certain other stockholders will sell 15 million shares.
The company, one of the largest chemical distributors in North America, expected the IPO to be priced between $20 and $22 per share.
Univar first announced in a June 2014 filing that it had planned to go public.
Univar is controlled by private-equity firms Clayton, Dubilier & Rice LLC and CVC Capital Partners LP.
PCT will provide additional reporting on this development as more details become available.
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