AFG Holdings Commences IPO – Quick Facts
AFG Holdings, Inc. (AFGL) announced it has commenced an initial public offering of 18.2 million shares of its common stock at an anticipated initial offering price between $15.00 and $18.00 per share. Of the 18.2 million shares of AFG’s common stock being sold in the offering, AFG is offering 5.6 million shares and the selling stockholders are offering 12.6 million shares. The shares have been authorized for listing on the NYSE under the ticker symbol, AFGL.
AFG expects to use the net proceeds from the offering to repay in full and terminate its term loan and the remaining net proceeds for general corporate purposes.
AFGlobal is an original equipment manufacturer that designs and manufactures highly-engineered, mission critical equipment and provides complementary consumable products, parts and aftermarket services to a diverse range of customers in the global oil and gas and general industrial end markets. AFGlobal is headquartered in Houston, Texas.
by RTTNews Staff Writer
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