Bookrunners JPMorgan and Macquarie Capital
are set to release terms for Reliance
Worldwide Corp's initial public offering. It is understood the plumbing supplies company will seek to raise $715.1 million to $918.8 million in what would be the biggest initial public offering of the year to date. The IPO
is priced at $2.27 to $2.50 a share and values Reliance
's equity at $1.19 billion to $1.31 billion. The final price will be determined at a bookbuild on Wednesday 27 and 28.