Cummins spin-off Atmus Filtration IPO prices at $19.50 a share

Atmus Filtration Technologies Inc.
ATMU,

priced 14.1 million shares at $19.50 a share to raise $275.4 million in its initial public offering on Friday, the company said. The IPO is a spinoff from Cummins Inc.
CMI,
+0.20%
in a relatively quiet year for equity offerings from major underwriters. In a sign of health, Atmus priced its IPO in the middle of its estimated price range of $18 to $21 a share with underwriters Goldman Sachs, J.P. Morgan, Baird, BofA Securities, Wells Fargo Securities and HSBC. The stock will trade on the New York Stock Exchange. Nashville-based Atmus manufactures filters and accessories for off-highway vehicles and commercial trucks.