UPDATE 1-Metals USA to raise up to $182 mln in IPO

* To use $172 mln from proceeds to repay debt

* Expects price/shr between $18 and $20

* Intends to list under the symbol “MUSA” on NYSE

March 26 (BestGrowthStock) – Metal processor Metals USA Holdings
Corp filed with U.S. securities regulators on Friday to raise
up to $182 million in an initial public offering of common
stock.

The company, in which private equity giant Apollo
Management LP [APOLO.UL] has a 93 percent stake, said it plans
to sell about 10.5 million common shares at an expected price
range of $18 a share to $20 a share.

On Monday, Apollo Management proposed to offer up to $50
million of shares in an IPO on the New York Stock Exchange.
[ID:nN22220043]

Metals USA said it intends to use about $172 million from
the proceeds to repurchase its 2007 notes.

The company said it plans to list its stock on the New York
Stock Exchange under the symbol “MUSA”.

The company told the U.S. Securities and Exchange
Commission in a preliminary prospectus that Goldman Sachs & Co,
Credit Suisse, J.P. Morgan, and Morgan Stanley were
underwriting the IPO among others.

Stock Market Basics
(Reporting by Abhinav Sharma in Bangalore; Editing by Maju
Samuel)

UPDATE 1-Metals USA to raise up to $182 mln in IPO