08:59 AM EDT, 10/01/2024 (MT Newswires) -- Moove Lubricants Holdings is seeking to sell 25 million shares of stock at an anticipated price of $14.50 to $17.50 per share in an initial public offering, the company said in a regulatory filing Tuesday.

The CVC Capital Partners-backed company said it will offer 6.25 million shares while the remaining 18.75 million shares will be offered by selling shareholders. The selling shareholders are also granting underwriters a 30-day options to purchase up to 3.75 million additional shares at the IPO price, Moove Lubricants said.

Moove Lubricants said it will not receive proceeds from the sale of shares by the selling shareholders.

The Brazil-based company expects to trade on the New York Stock Exchange under the symbol "MOOV."

Goldman Sachs, Jefferies and Morgan Stanley are the joint bookrunners for the IPO, according to the regulatory filing.