NuCo2 Plans $200m IPO

NuCo2 will sell about $200m of stock in an initial public offering, the company said in a regulatory filing.

The US-based beverage-carbonation company posted a loss of $9.7m, or $80.8 a share, for the six months ending 31 December, compared to $11.2m, or $111.50 a share, in 2008.

During the period the company’s revenue increased by 10% to $83.7m.

NuCO2 will use the proceeds to repay debt and fund growth and acquisitions.

The firm was acquired two years ago by investment firm Aurora Capital Group and NuCo2 management.

The company plans to apply for listing on the New York Stock Exchange under the symbol NUCO.