Axalta IPOs, CEO on Longest Running Relationship in NASCAR History

Axalta Coating Systems listed its IPO at the New York Stock Exchange Wednesday morning under the ticker symbol AXTA.
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Axalta Coating Systems listed its IPO at the New York Stock Exchange Wednesday morning under the ticker symbol AXTA. The company's chairman and CEO Charlie Shaver rang the opening bell with four-time NASCAR Cup Series champion, Jeff Gordon. Axalta has the longest-running sponsor combination relationship in NASCAR history. Shaver says being a manufacturer of auto coatings makes it an auto-related stock play like TrueCar (TRUE) and Mobileye (MBLY), both of which have risen significantly since debuting this year. Carlyle (CG) bought Axalta from DuPont (DU) in February 2013 for $4.9 billion and plans to raise $878 million by offering 45 million shares.