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Wednesday, August 20, 2014

Carlyle-backed Axalta Coating files for IPO, (NASDAQ: CG)

Axalta Coating Systems Ltd, a paint coatings company backed by takeover firm Carlyle Group LP, filed with U.S. regulators on Wednesday for an initial public offering of common stock.The company listed Citigroup, Goldman Sachs, Deutsche Bank and JP Morgan among the underwriters for the IPO. ( reported last week that Carlyle had hired banks for an initial public offering of Axalta that could raise as much as $1 billion. ( filing, which included a nominal fundraising target of about $100 million, did not reveal how many shares the company planned to sell or on which exchange it intended to list its common stock.

Shares of CG traded higher by 0.45% or $0.15/share to $33.16. In the past year, the shares have traded as low as $24.95 and as high as $39.38. On average, 386709 shares of CG exchange hands on a given day and today's volume is recorded at 267786.