The Woodlands, Texas — Huntsman has started the process of launching shares in its titanium dioxide and performance additives businesses. This will be floated as a company called Venator.
Huntsman has publicly filed a registration statement on form S 1 with the US Securities and Exchange Commission a head of a process of listing the shares following an offer for sale by Huntsman in the near future.
The firm explained that the "proposed offering will be made only by means of a prospectus." And when it is available, copies will distributed by BofA Merrill Lynch in Charlotte, North Carolina.
According to a presentation made at a USB global chemicals conference in New York, last November, Huntsman said that polyurethanes would become much more prominent after business separation. At the time Huntsman predicted that the remaining Huntsman would have pro forma revenues of $7 bn and adjusted ebitda of between $1 and $1.2 bn; between 46 % and 51% of ebitda is expected to be generated by the polyurethanes business.
It quoted data from Chemical Consultants nexant, which suggested that in 2015 Huntsman had 15% of MDI pre-cursor capacity world wide.