Phibro Animal Health Corp. announced March 10 that it has publicly filed a registration statement on Form S-1 with the Securities & Exchange Commission relating to a proposed initial public offering (IPO) of its common stock.
The number of shares to be offered and the price range for the offering have not yet been determined. The common stock is expected to be listed on The NASDAQ Stock Market under the symbol "PAHC."
According to the announcement, the Bendheim family is not selling any shares in the offering and will remain in control of the company following the offering. Phibro's minority stockholder, Mayflower Ltd. Partnership, managed by 3i Investments plc, will be a selling stockholder in the offering, and newly issued shares will also be sold by the company, which intends to use the net proceeds from the offering to repay certain of its outstanding debt, pay related fees and expenses and for general corporate purposes, Phibro said.
BofA Merrill Lynch, Morgan Stanley & Co. LLC and Barclays Capital Inc. are serving as joint book-running managers for the proposed offering.
The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering, when available, may be obtained from BofA Merrill Lynch, Morgan Stanley & Co. LLC and Barclays Capital Inc.
Phibro is a diversified global developer, manufacturer and marketer of a broad range of animal health and mineral nutrition products for use in the production of poultry, swine, cattle, dairy and aquaculture.