Australia’s IPO market is showing signs of life with Molycop’s private equity owners, American Industrial Partners, calling in Goldman Sachs deal makers to take the Newcastle steel manufacturer public.
The North American investment firm snapped up Molycop – one of the world’s largest suppliers of grinding media, and the former crown jewel of the Arrium steelmaking empire – for $1.6 billion in 2016.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
