Vallar Beats IPO Target; Raises £700m
Beating its own target, the investment vehicle of financier Nat Rothschild, Vallar, has raised £707m in an initial public offering in London. The complete trading is to commence on 14 July, the group has placed 68.7m shares at £10 each, whereas, it had plans to raise £600m.
Nat Rothschild was pleased to have received such a great response from global investors, even though the markets are so difficult at this time of hour.
He added, “These challenged markets present us with attractive acquisition opportunities and we are confident that we can acquire a major mining business at a valuation that will generate significant shareholder value and provide a platform for the future growth of Vallar”.
Now, after the group has made an admission, it further plans to purchase a single major Company, which will perform noteworthy operations in global metals, mining and resources sector. Earlier, the group said that it expects to concentrate on areas and comodities, on which it can influence strongly with its widespread network and powerful prior operating and investment experience of the Vallar Team.
The areas included in the focus of the Company are Americas, Russia, Eastern Europe and Australia; plus, the commodities to be focused upon are base metals, cooking coal, iron ore and thermal coal.
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