SRAM aims to raise $300m with float

SRAM files for an initial public offering.
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SRAM International is to file for IPO of up to $300ml. The company filed papers with US regulators earlier today to raise up to $300 million in an initial public offering of common stock.

The offering proceeds would be used to pay down debt, said a company statement.

The company intends to list under the symbol SRAM, but has not yet decided which exchange it intends to list on.

SRAM told the Securities and Exchange Commission that J.P. Morgan, Bank of America Merrill Lynch, Morgan Stanley, and others, are underwriting the IPO.

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