Leading distributor of pipes and other industrial products for water supply Core & Main attracted 698 million dollars, releasing 34,9 million shares in 20 dollars - the minimum price of the stated range from 20 to 23 Dollars. Taking into account the actual IPO price, the total diluted market value of the company was 4,8 billion dollars.
Core & Main is a distributor of water products, who offers goods 4500 suppliers more than 60 000 municipal clients, as well as companies, residential and non-residential real estate managers. Company representatives are confident, that the scale of its activities and technical experience allow clients to build and maintain water systems, drainage, storm water drainage and fire protection.
Core & Main plans to list on the exchange NYSE under the ticker CNM. Goldman Sachs became the joint organizers of the share issue, Swiss credit, J.P. Morgan, BofA Securities, Baird, Citi, RBC Capital Markets, Barclays и Deutsche Bank.
