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The Wall Street Journal: Valvoline prices IPO at $22 a share

Valvoline Inc., an engine and automotive-maintenance business being spun off from Ashland Inc. ASH, -0.82% , raised at least $660 million in its initial public offering.

The IPO of 30 million shares priced at $22 each on Thursday, within the expected range of $20 to $23 announced on Sept. 12.

Valvoline was one of the bigger names in a list of post-Labor Day IPOs expected to provide a rebound after a slow start this year. As of late August, 2016 was on track to be the worst year for IPOs since the financial crisis, with 63 companies listing on U.S.

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