Here it comes: $400m float for steel titan Vulcan

Vulcan is looking to new investors for its future. (Image: Supplied)

Mon, 18 Oct 2021

Steel and metals distributor and processor Vulcan Steel will list on the ASX and NZX on Nov 4, after an initial public offer to raise $400 million.The Australian-domiciled IPO seeks to raise A$372m at A$7.10 a share for a 39.8% stake in the business.Cornerstone and early bids have already secured a reported A$220m, backed by institutional investors in Australia, NZ and Asia. The retail offer opens on Oct 25.Its lead managers in Australia are Credit Suisse and UBS AG. Its co-leads in NZ are Ord Minnett and Forsyth Barr. The IPO values the f...

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