An initial public offering by Noranda Aluminum Holding Corp. is set to be priced tonight, which would allow shares of the Franklin-based aluminum products producer to make their trading debut Thursday morning.
Noranda plans to offer 16.67 million shares at $14 to $16 each with plans to use proceeds of roughly $250 million to repay debt.
It, however, remains to be seen if the IPO will go forward in a volatile stock market. Last week, four companies postponed IPOs that had been scheduled for U.S. stock markets.
Billionaire investor Leon Black’s Apollo Global Management LLC controls Noranda, which makes rolled coils. The company’s shares are expected to trade on the New York Stock Exchange under the symbol NOR.
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