U.S. chemical distributor Univar valued at $3 billion in IPO

Univar Inc (UNVR.N) priced its initial public offering at $22 per share on Wednesday, valuing the U.S. chemical distributor at about $3.03 billion.

The IPO raised $770 million, after the initial public offering of 35 million shares was priced at the top end of the expected price range.

Univar said it would sell 20 million shares and certain other stockholders will sell 15 million shares.

The company, one of the largest chemical distributors in North America, expected the IPO to be priced between $20 and $22 per share.

Shares of the company, which is expected to start trading on Thursday, will be listed on the New York Stock Exchange under the symbol "UNVR."

Deutsche Bank Securities, Goldman Sachs & Co [GSGSC.UL], and Bank of America Corp's (BAC.N) Merrill Lynch were the lead underwriters.