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Waste collector Advance Disposal seeks to raise $404 million in IPO: Reuters

(Reuters) — Waste collection company Advance Disposal Services Inc said on Monday it expects to raise as much as $404.3 million in its initial public offering, valuing the company at about $1.76 billion.

The fifth-largest solid waste company in the United States had postponed a plan to go public in February due to stock market volatility.

The company expects the 19.25 million-share offering to be priced at between $18 and $21 per share, Advance Disposal Services said in a filing on Monday.

The Ponte Vedra, Florida-based company said it intends to use the proceeds from the offering to pay back debt.

Deutsche Bank Securities, Credit Suisse Securities (USA) and Barclays Capital are among the underwriters to the IPO.

Advance Disposal plans to list under the symbol “ADSW” on the New York Stock Exchange.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza)