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PNA Raises IPO Hopes

PNA Group Holding Corp., an Atlanta-based steel processor and distributor, has raised its IPO target from $175 million to $200 million. It has not detailed how many shares it plans to sell, or at what price. PNA expects to to trade on the NYSE under ticker symbol PNA, with Citi and UBS serving as co-lead underwriters. It was acquired in 2006 by Platinum Equity, and originally filed for its IPO over one year ago.