Gates Industrial Corporation plc, a global manufacturer of products used in many sectors of the industrial and consumer markets, announced today the launch of its initial public offering of 38,500,000 of its ordinary shares. The initial public offering price is expected to be between $18.00 and $21.00 per share.
The company expects to grant the underwriters a 30-day option to purchase up to an additional 5,775,000 ordinary shares. Gates has been approved to list its ordinary shares on the New York Stock Exchange under the symbol “GTES.”
A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective.