- Valvoline, an engine and automotive-maintenance business being spun off from Ashland, raised at least $660M in its initial public offering.
- The IPO of 30M shares priced at $22 each, within the expected range of $20-$23 announced on Sept. 12, and will begin trading today on the NYSE under ticker "VVV."
- After the IPO is complete, Ashland will own 170M Valvoline shares, representing an 85% stake.