Evoqua IPO proceeds will be used to pay down debt

Evoqua shares raised $500m on its Initial Public Offering (IPO) on the New York Stock Exchange on 2 November.

The shares, priced at $18, rose to high of $20.8 on the first day of trading, and are hovering at around $20.3 six days later.

The company sold 8.3 million shares, raising $149.4 million, which will be used to pay down debt. Other stockholders sold 19.4 million shares, raising $349.2 million.

Evoqua has grown quickly through acquisition since it was formed by the €640 million buyout of Siemens Water Technologies in 2014. The company acquired filtration specialists Neptune Benson for $284m in 2016, and has completed a raft of smaller deals.

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Evoqua files for IPO as Honeywell weights takeover (11 October 2017)

Evoqua continues water technology purchasing spree (12 July 2017)

Evoqua acquires Noble Water, as growth plans shape up (10 May 2017)

Evoqua and Neptune Benson together snap up Delta Ultraviolet (10 August 2016)