UPDATE 1-HeidelbergCement-owned Hanson Building files for IPO

Mon Sep 15, 2014 7:30am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds details)

Sept 15 (Reuters) - Hanson Building Products Ltd, owned by HeidelbergCement AG, filed with U.S. regulators for an initial public offering of ordinary shares.

BofA Merrill Lynch, BNP Paribas and Deutsche Bank Securities were underwriting the IPO, Hanson told the U.S Securities and Exchange Commission in a preliminary prospectus on Monday.

Hanson Building makes products such as concrete gravity pipe, concrete and steel pressure pipe and clay bricks.

The company's business is spread across the United States, eastern Canada and the UK.

HeidelbergCement agreed to buy Hanson Plc, which also includes Hanson Building, for 8 billion pounds in 2007 to create the world's second-largest company in construction materials.

However, Heidelberg has been aiming to offload its U.S. and British building products business this year to have the best chance of buying cement assets that Lafarge and Holcim must sell when they merge, Reuters reported in July citing sources.

Hanson Building's filing included a nominal fundraising target of about $100 million. (1.usa.gov/1m5kRAw)

The filing did not reveal how many shares the company planned to sell or their expected price.   Continued...