GSE changes IPO

Houston-based GSE Holdings Inc. (GSE) has revised its initial public offering (IPO), according to documents filed with the Securities and Exchange Commission Jan. 30, 2012.

GSE is a manufacturer of geosynthetic products including geomembranes and geosynthetic clay liners (GCLs) used in containment, lining, capping and mining applications.

In December 2011, the company postponed its previously announced IPO due to market conditions. The Jan. 30 filing with the SEC details selling 7 million shares at $8–$10 per share.

GSE said it expects to raise about $56.6 million from this IPO to reduce debt, terminate a previous management agreement and for general corporate purposes.

The company plans to list on the New York Stock Exchange under the ticker GSE.