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Friday, April 5, 2013

Chemical maker Taminco to sell 15.8 million shares at $18-$20 each in IPO, (NYSE: MS)

Taminco Corp, the chemical maker owned by Apollo Global Management, said it would sell about 15.8 million shares for $18 to $20 each in an initial public offering. At the midpoint of the range, the IPO would raise about $300 million. The company said it intends to use the proceeds of the offering to repay debt.U.S. private equity firm Apollo bought Taminco for about 1.1 billion euros ($1.41 billion) from CVC Capital Partners at the end of 2011.The Belgian company had tried to list its shares in Brussels in 2010. It blamed difficult market conditions for the failure of the IPO, which would have been Belgium's biggest since 2007.In a filing with the U.S. Securities & Exchange Commission, the company listed Citigroup, Goldman Sachs, Credit Suisse, J.P.Morgan, Deutsche Bank, Jefferies, Morgan Stanley and UBS as its lead underwriters.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $21.33. In the past year, the shares have traded as low as $12.26 and as high as $24.47. On average, 21194800 shares of MS exchange hands on a given day and today's volume is recorded at 0.