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Vulcan successfully listed on ASX
Vulcan Steel Limited has been advised on its successful initial public offering and listing on the ASX, with a foreign exempt listing on the NZX.
Naomi Neilson
Firm: Gilbert + Tobin (Vulcan Steel Limited)
Value: The company raised approximately $370 million, giving it a market cap of approximately $930 million at the initial offer price.
Area: IPO.
Key players: The team was led by partner Peter Cook, who was assisted by Ilona Hunnisett, Shananne Joyce and Kim Nguyen.
Deal significance: Vulcan supplies and processes steel and steel products to about 12,000 customers in Australia and New Zealand. The transaction was one where all existing holders sold down approximately 49 per cent of their holding but also retained the majority of their existing holding.
Commenting on the deal, Mr Cook said: “Vulcan Steel is a key link in the steel value chain between producers, traders and end-users servicing the Australasian economy, and we are delighted to have assisted them on this significant milestone which will help pursue future growth opportunities.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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