Bain Capital-backed Trinseo files for IPO of up to $200 mln

The company withdrew its IPO plans last June after filing to go public in June 2011, sister news service Reuters reported. Trinseo, formerly Styron Corp, told the U.S. Securities and Exchange Commission in a preliminary prospectus that Goldman Sachs, Deutsche Bank Securities, Citigroup and Morgan Stanley were among the lead underwriters for the IPO.

Bain Capital bought Styron from Dow Chemical Co for $1.63 billion in 2010.

The filing did not reveal how many shares the company planned to sell or their expected price. Trinseo intends to list its common stock under the symbol “TSE”, but did not specify the exchange it wants to list on.

Net proceeds from the offering would be used to repay debt and for working capital and general corporate purposes, Trinseo said. The Berwyn, Pennsylvania-based company swung to a net loss of $22.2 million for the year ended Dec. 31, 2013, from a profit of $30.3 million in 2012.

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

Avik Das is a correspondent for Reuters in Bangalore.