CBS Outdoor Americas Expects To Price IPO In $26-$28/shr Range

(RTTNews) - CBS Outdoor Americas Inc., currently an indirect wholly owned subsidiary of CBS Corp. (CBS.A, CBS), said in a regulatory filing that it expects to price its initial public offering between $26.00 and $28.00 per share. It is offering 20 million shares of its common stock.

CBS Outdoor Americas'common stock has been approved for listing on the New York Stock Exchange, subject to official notice of issuance, under the symbol "CBSO".

The company has granted the underwriters an option for a period of 30 days from the date of this prospectus to purchase an additional 3 million shares of its common stock.

If the underwriters exercise the option in full, the total underwriting discounts and commissions payable the company will be $27.9 million, and the total net proceeds to the company, before expenses, will be $593.1 million, in each case, based on the midpoint of the price range.