AZEK prepares for IPO

The AZEK Company announced that the launch of its initial public offering will include 31,250,000 shares of its Class A common stock following its conversion into a corporation. 

The IPO price is expected to be between $19 and $21 per share of Class A common stock. The underwriters will have a 30-day option to purchase an additional 4,687,500 shares of Class A common stock from AZEK at the initial public offering price, less underwriting discounts and commissions. 

The building products manufacturer is looking to raise $625 through the IPO. For the fiscal year ended March 31, AZEK had revenue of $848 million.

AZEK has also been approved to list its stock on the New York Stock Exchange under the ticker symbol "AZEK."

Barclays, BofA Securities, Goldman Sachs & Co. LLC and Jefferies are acting as joint lead book-running managers for the offering. Citigroup, Credit Suisse, Deutsche Bank Securities and RBC Capital Markets are acting as joint book-running managers, and B. Riley FBR, Baird, Stephens Inc., Stifel, SunTrust Robinson Humphrey and William Blair are acting as co-managers for the offering.

Based in Chicago, AZEK also produces the TimberTech brand of composite decking.