Norit Files to Raise $200m in IPO

Norit, a Netherlands-based maker of activated carbon, has filed with U.S. regulators to raise $200 million in an initial public offering, writes Reuters. In 2007, Norit was acquired by a group of investors led by British private equity fund Doughty Hanson & Co from Gilde Buy Out Partners.

Reuters – Norit N.V., a Netherlands-based maker of activated carbon, filed with U.S. regulators on Monday to raise $200 million in an initial public offering of its common stock.

In a filing with the Securities and Exchange Commission, the company said Goldman Sachs & Co and Deutsche Bank Securities would be underwriting its IPO.

The company said it will use part of the proceeds to repay outstanding debt and that it intends to apply to have its stock listed on the New York Stock Exchange under the symbol ‘NRIT.’

In 2007, Norit was acquired by a group of investors led by British private equity fund Doughty Hanson & Co from Gilde Buy Out Partners.

Activated carbon, usually derived from charcoal, is treated with heat or chemicals, increasing its ability to absorb pollutants and it is used by a wide range of industries, including water, food, pharmaceuticals and mining.

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different.