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Burrup Fertilisers IPO plan set for relaunch
12-May-08
Written by Mark Pownall
Pankaj Oswal's Burrup Fertilisers' stock market float is back on the drawing board, with the company close relaunching a revised offer to investors, possibly within the week.
Mr Oswal confirmed he was awaiting audited results later this week before pressing the button on the float, with the partners seeking a slightly reduced raising in recognition of the recent market volatility which caused the original offer to be withdrawn in March.
While the mechanics of float plan appear the same - Burrup is seeking to sell 20 per cent of company via an IPO to raise between $500 million and $600 million, valuing the company between $2.5 billion and $3 billion - Mr Oswal confirmed the market had tightened and his expectations were lower.
Article continues...
12-May-08
Written by Mark Pownall
Pankaj Oswal's Burrup Fertilisers' stock market float is back on the drawing board, with the company close relaunching a revised offer to investors, possibly within the week.
Mr Oswal confirmed he was awaiting audited results later this week before pressing the button on the float, with the partners seeking a slightly reduced raising in recognition of the recent market volatility which caused the original offer to be withdrawn in March.
While the mechanics of float plan appear the same - Burrup is seeking to sell 20 per cent of company via an IPO to raise between $500 million and $600 million, valuing the company between $2.5 billion and $3 billion - Mr Oswal confirmed the market had tightened and his expectations were lower.
Article continues...
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