Luxfer Holdings Plc, a British maker of high-performance materials and gas cylinders, said it expects to sell 8 million American Depository Shares for between $12 and $14 each in an initial public offering, raising up to $128.8 million. At the middle of that range, the Salford, England-based company would raise $104 million.
Luxfer makes products and components in aluminium, magnesium, zirconium, rare earths and other materials. Its products include specialty chemicals, photo-sensitive plates, high-pressure cylinders and metal panels.
The company intends to use the proceeds from the IPO to repay a term loan, it said in a revised filing with the Securities and Exchange Commission.
It had filed for an IPO in December, but postponed it citing market conditions.
At that time the company expected to raise $185.4 million from the offer priced at between $13 and $15 per ADS.