International Automotive Components Group, backed by private equity firm WL Ross, has filed a preliminary prospectus with the U.S. Securities and Exchange Commission (SEC) to raise up to $115 million in an initial public offering (IPO) of common stock, reports Reuters.
The filing did not reveal how many shares the company planned to sell or their expected price.
The company plans to list its common stock on the New York Stock Exchange (NYSE) under the symbol “IACG”.
The company intends to use proceeds from the offering to repay debt.
Source: Reuters via Automotive News
