US materials firm Styron Corp has filed for an IPO a second time around with the US SEC (Securities and Exchange Commission) to raise up to US$200 million. The company withdrew its IPO last year after filing for it in 2011. This time it is filing for the IPO under Trinseo, a name that it was supposed to revert to after it was bought by private equity firm Bain Capital from Dow Chemical in 2010 for US$1.63 billion. The IPO last year was to raise US$400 million.

The firm said that net proceeds from the latest offering would be used to repay debt and for working capital and general corporate purposes. It registered a net loss of US$22.2 million for the year ended December 31, 2013, compared to the profit of US$30.3 million in 2012. Its sales in 2013 also dropped by 3%. It manufactures and markets standard, speciality, and customised emulsion polymers and plastics. It operates through four segments: Latex, Rubber, Styrenics and Engineered Polymers.

Meanwhile in the UK, Polypipe, a manufacturer of plastic piping systems for the residential, commercial, civil and infrastructure sectors, is intending to float the company on the London Stock Exchange next month. The group said the offer of half the company’s available shares, which are owned by existing shareholders including senior management and the firm’s principal shareholder, private equity firm Cavendish Square Partners, would be made available to institutional and professional investors. Analysts value the group at around £400 million. It reported a revenue of £300 million last year, with an adjusted EBITDA of £54 million.

Founded in 1980, the group is the largest manufacturer in the UK, and among the ten largest manufacturers in Europe of plastic piping systems. It operates from 16 facilities in total, targeting the residential (51% of 2013 sales) and commercial, civil and infrastructure (49% of 2013 sales) sectors, offering the widest product range in the UK. The group's primary operations are in the UK, French and the Irish building and construction markets, with a presence in Italy and the Middle East and sales to specific niches in the rest of the world.