CHICAGO — The AZEK Company has announced the launch of its initial public offering of 31,250,000 shares of its Class A common stock following its conversion into a corporation.
The IPO price is expected to be between $19.00 and $21.00 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 IPO price, less underwriting discounts and commissions. AZEK will trade under the ticker symbol “AZEK.”
A 30-year-old company, AZEK has a compound annual growth rate of 10% for the last 5 years, and 15.8% over the last 12 months.