Cummins spin-off Atmus Filtration IPO prices at $19.50 a share
Atmus Filtration Technologies Inc. priced 14.1 million shares at $19.50 a share to raise $275.4 million in its initial public offering on Friday, the company said. The IPO is a spinoff from Cummins Inc. (CMI) in a relatively quiet year for equity offerings from major underwriters. In a sign of health, Atmus priced its IPO in the middle of its estimated price range of $18 to $21 a share with underwriters Goldman Sachs, J.P. Morgan, Baird, BofA Securities, Wells Fargo Securities and HSBC. The stock will trade on the New York Stock Exchange. Nashville-based Atmus manufactures filters and accessories for off-highway vehicles and commercial trucks.
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
05-26-23 0720ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
How to Invest Like Warren Buffett
-
Cognizant Earnings: Improved Profitability Buttresses Results as Customer Spending Remains Muted
-
10 Top-Performing Dividend Stocks of the Month
-
Marathon Petroleum Earnings: No Change to Competitive Position, but Shares Look Expensive
-
Charlie Munger and How Not to Invest
-
After Earnings, Is AT&T Stock a Buy, a Sell, or Fairly Valued?
-
Mastercard Earnings: A Stable Environment Highlights the Firm’s Strengths