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Highlights
Knowlton Development IPO is trending among potential investors as the company is looking to go public in the Canadian and the US market.
Notably, Knowlton Development’s common stock has been approved for listing on the NYSE and it will trade under the stock symbol 'KDC'.
Knowlton has filed Form S-1 filed with the US Securities and Exchange Commission (SEC).
Knowlton Development Corporation, Inc., the Canada-based manufacturer and custom formulator of beauty, personal and home care products, has announced that it is planning to go public in the US and Canadian equities market.
According to the initial public offering plan, Knowlton Development will likely offer 57.1 million common shares at the time of its public debut and the underwriters would have a 30-day option of buying additional 8.6 million common stock to cover over-allotments.
Knowlton has filed Form S-1 with the US Securities and Exchange Commission (SEC) and also, a second amended preliminary base PREP prospectus filed with the regulatory authorities in all the Canadian territories and provinces.
The price range of the shares is expected to be between US$ 13 to US$ 15 per share. In the US, Knowlton development is hoping to list its shares on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) in Canada.
Notably, the common stock has been approved for listing on the NYSE and it will trade under the stock symbol 'KDC'.
What's next for Knowlton Development IPO?
Key players like J.P Morgan, BMO Capital Markets, Goldman Sachs & Co. LLC, and UBS Investment Bank have been roped in as the leading underwriters for the IPO. Meanwhile, RBC Capital, Morgan Stanley and BofA Securities among others will act as the joint underwriters for the initial public offering.
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The shares will start trading after the registration becomes effective and before that the securities may not be sold. As the IPOs have been booming in the US and Canada this year, Knowlton could go public sooner than expected and retail investors would have an option of trying to get hold of the pre-IPO shares through stockbrokers and brokerage companies.
On the other hand, listing on the Toronto Stock Exchange would be subject to the approval of the TSX and it has not conditionally approved the listing application. Retail investors in Canada will likely have to wait for some more time before there's some certainty about the TSX debut.
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Bottom line
According to reports, the global provider of value-added solutions is expecting to raise US$ 857.1 million from the IPO and that could value the firm up to US$ 3.22 billion.
