Luxfer IPO watch: According to the amended Form S-1 filing submitted by the U.K. materials technology company – Luxfer Holdings PLC to the United States Securities and Exchange Commission recently, the company intends to list its common shares in the form of ADS (American Depositary Shares) on the New York Stock Exchange under the symbol “LXFR.” Each ADS will represent one-half of an ordinary share of £1 per share.
The company will use the proceeds from the sale of the ADSs in this offering to repay the entire amount outstanding under the senior term loan and for other general corporate purposes.
Credit Suisse and Jefferies are working as the representatives of the Luxfer IPO.
Luxfer Holdings PLC was incorporated on December 31, 1998 with the name Neverealm Limited and renamed as Luxfer Holdings PLC on April 1, 1999, and is currently engaged into the design, manufacture and supply of high-performance materials, components and gas cylinders to both end-users and manufactures that in a broad range of growing end-markets, including environmental technologies, healthcare technologies, protection and specialty technologies.
For the years ended December 31, 2009, 2010 and 2011, the company posted net profits of $9.5 million, $25.7 million and $43.4 million on revenues of $371.3 million, $402.7 million, and $510.8 million, respectively. Operating profits for these years were $27.3 million, $44.9 million and $66.2 million, respectively. For the three months ended March 21, 2012, the company posted a net profit of $11.1 million on revenue of $141.4 million versus $8.5 million on revenue of $119.6 million for the same period last year. Operating profit for this period reached $18.3 million versus $14.2 million a year ago.
Following the Luxfer IPO, the company intends to pay an annual dividend.
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