Ashland (ASH) Launches 30M Share Valvoline (VVV) IPO
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Ashland Inc. announces launch of Valvoline Inc. initial public offering
September 12, 2016 7:13 AM EDTSeptember 12, 2016
COVINGTON, Ky. - Ashland Inc. ("Ashland") today announced the launch of the Valvoline Inc. ("Valvoline") initial public offering of 30,000,000 shares of Valvoline's common stock. The offering is being made pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission ("SEC"). Valvoline expects to grant the underwriters an option to purchase up to an additional 4,500,000 shares of its common stock to cover over-allotments, if any. After the completion of the offering, Ashland will own 170,000,000 shares of Valvoline's common stock, representing 85% of the total outstanding shares of Valvoline's common... More
