Verso Paper (VRS) Sees New IPO Price of $12
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Verso Paper Corp. (NYSE: VRS) has filed an amended registration statement with the SEC for an initial public offering of its common stock. The Company is offering 18,750,000 shares and expects the new offering price to be $12 per share. The Company plans to list on the NYSE under the symbol "VRS".
The offering is being made through Credit Suisse, Citi, Deutsche Bank Securities, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley and Utendahl Capital Partners.
Verso Paper is a leading North American supplier of coated papers to catalog and magazine publishers. The market for coated paper, which is comprised of coated groundwood paper and coated freesheet paper, is one of the most attractive segments of the paper industry due to its prospects for volume growth, continued improvement in pricing and the high value-added nature of its products.
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