Latham, Ogier Steer PE-Backed Atotech's $498M Public Debut

Law360 (February 4, 2021, 4:22 PM EST) -- Carlyle-backed chemicals company Atotech started trading Thursday after raising $498 million in an initial public offering guided by Latham & Watkins LLP and Ogier LLP that priced below Atotech's expected range.

Atotech Ltd.'s shares opened at $17 apiece — the same as their IPO price — on the New York Stock Exchange, where they are trading under the symbol "ATC." The IPO price fell below Atotech's expected price range of $19 to $22 per share, U.S. Securities and Exchange Commission filings show. The company sold about 29.3 million shares in the offering to raise nearly $498 million.

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