Ternium S.A., a major producer of flat and long steel products in Venezuela, Mexico and Argentina, priced its initial public offering of 24.8 million American Depositary Shares (ADSs) at $20 on Tuesday night. The pricing came above the company's proposed range of $16.50 to $18.50. Citigroup, Deutsche Bank and JP Morgan were the lead underwriters on the deal. The stock is expected to begin trading on the NYSE under the ticker TX on Wednesday.
