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June 1 (Reuters) - Jeld-Wen Holding Inc, a maker of doors
and windows, filed with U.S. regulators on Wednesday to raise up
to $100 million in an initial public offering of its common
stock.
In a preliminary prospectus with the U.S Securities and
Exchange Commission, Jeld-Wen also said it had "identified
material weaknesses" in its internal control over financial
reporting.
The company said that while drawing up its 2015 financial
statements, it failed to identify potential misstatements,
including the calculation of income tax expense.
Jeld-Wen said it had begun a remediation process. The
company added that a failure to address the issue could affect
investor confidence in the accuracy of its financial statements,
as well as its stock price.
The Charlotte, North Carolina-based company, controlled by
Canadian private equity firm Onex Corp OCX.TO , said Barclays (LON:BARC),
Citigroup (NYSE:C), Credit Suisse (SIX:CSGN), and J.P. Morgan were underwriting the
IPO.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.
The Wall Street Journal, citing sources, reported in August
that Jeld-Wen's IPO could raise around $600 million. (http://on.wsj.com/1OL55Um)
Jeld-Wen's filing did not reveal how many shares the company
planned to sell or their expected price. The company also did
not disclose where it intended to list its stock.