Bain Capital-backed cleaning products maker Diversey sets IPO price range

Bain Capital-backed cleaning and hygiene products maker Diversey Holdings Ltd. filed for an IPO of 46,153,846 ordinary shares, expected to be priced in a per-share range of $18.00 to $21.00.

The offering comes with an overallotment option for underwriters to buy up to 6,923,077 additional shares.

The company aims to have its shares listed on the NASDAQ Global Select Market under the DSEY ticker.

Net proceeds from the IPO are expected to total about $845.0 million, assuming a price of $19.50 per share. The company may use the proceeds to repay outstanding debt under its senior secured credit facilities, including fees and expenses.

Following the offering, investment funds controlled by the private equity owner will hold about 77.4% of the company's outstanding shares, or 75.7% if the overallotment option is fully exercised.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, BofA Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Jefferies LLC, RBC Capital Markets LLC, UBS Securities LLC, Robert W. Baird & Co. Inc., Guggenheim Securities LLC and Siebert Williams Shank & Co. LLC are underwriters for the offering.