News Bulletin

Australias Largest IPO

Tuesday, 21 Sep 2010


After months of debates and meetings, Australia’s largest rail freight company, QR National Ltd, has launched the pre-registration phase for its public share offers. The company operates across five Australian states and has a significant presence in New South Wales’ Hunter Valley region and in Western Australia, where it currently holds around 60 percent of the contestable iron ore contracts.

Reports have suggested that the float will intend to raise between $4 to $5 billion with the Queensland Government retaining a significant stake of between 25 to 40 per cent. Until the government decides on the exact level of ownership, the number of shares on offer remains a mystery.

The 145 year old company is under restrictive conditions with no individual investors, other than the Queensland government, being able to hold more than 15 per cent of the company. In addition, Queensland Treasurer Andrew Fraser has made it clear to the market that priority allocation will be made to Queensland residents.

With the stabilisation of commodity prices and the M&A fever that is currently sweeping the mining industry, the soon-to-be privatised company is expected to receive exceptional demand from the equity market.

Source
QR websites:

http://www.qrnational.com.au/Corporate/Pages/AboutQRNational.aspx
https://qrnshareoffer.com.au/Content/PDF/Pre-registration_opens_-_Treasurer_of_Queensland.pdf
https://qrnshareoffer.com.au/Content/PDF/QR6294_A5_QuickFacts_FA5.pdf

Bloomberg:

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=ackeLtHrh_VM

     

      

     

     

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