SYDNEY: South African-owned insurer Hollard Group plans to raise nearly A$1bil (US$783mil) by listing its Australian unit Greenstone Pty Ltd, a source working on the sale told Reuters, in what is set to be Australia’s biggest initial public offering (IPO) for the year to date.
The listing will be closely watched by capital markets participants anxious to gauge the strength of an IPO market that has, after a record year in 2014, cooled substantially due to concerns about sluggish economies around the world.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!