UPDATE 2-Bain Capital-owned Diversey aims for $6.38 bln valuation in U.S. IPO

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March 16 (Reuters) - Bain Capital-owned Diversey Holdings Ltd, which provides cleaning and hygiene products, said on Tuesday it was aiming for a valuation of up to $6.38 billion in its initial public offering in the United States.

Diversey is seeking to raise up to $970 million in its IPO from selling about 46.2 million shares priced between $18 and $21 apiece, according to the company's filing. (https://bit.ly/3qTch9M)

Bain had acquired Diversey in 2017 from Sealed Air Corp for about $3.2 billion. The Boston-based private equity firm later acquired UK-based Zenith Hygiene Group, which was then merged with Diversey.

Diversey provides sanitation products for sectors including food and beverage, healthcare, hospitality and retail.

The Fort Mill, South Carolina-based company will list its stock on the Nasdaq under the symbol "DSEY".

Part of the proceeds will be used to repay outstanding debt, Diversey said in the filing.

The IPO market in the U.S. continues to be strong in 2021, with shares of tech heavyweights such as Coupang Inc and Roblox Corp popping in their market debuts last week.

Citigroup, Morgan Stanley, Barclays and JP Morgan are the lead underwriters for the offering. (Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber and Vinay Dwivedi)

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