Sensata Technologies Inc., an Attleboro, Mass.-based sensors and controls company, has set its IPO terms to 31.6 million common shares being offered at between $18 and $20 per share. It would have an initial market cap of approximately $3.42 billion, were it to price at the top of its offering range.
Sensata plans to trade on the NYSE under ticker symbol ST, with Morgan Stanley, Barclays Capital and Goldman Sachs serving as co-lead underwriters.
Sensata reports around $1.13 billion in net revenue for 2009, compared to $1.42 billion in 2008. Its net loss shrunk from $134 million in 2008 to $27 million in 2007.
Sensata is majority-owned by Bain Capital, based on a 2006 buyout from Texas Instruments. www.sensata.com