Aleris rolls toward IPOPosted by tjdetai on August 23rd, 2015 Aleris formally launched its initial public offering this afternoon, one day after filing a preliminary prospectus that outlined the number of shares to be sold but no price guidance.
In the case of Aleris, Oaktree Capital Management and Apollo Management are leading secondary sellers that are selling a combined 21.9m shares, reducing their stakes to 42.9% and 13.5%, respectively.Aleris is using proceeds from the primary sale of 9.4m shares for general corporate purposes, including to fund construction of new aluminium rolling mill in China. The aluminium processor plans to spend US0m on capital expenditures in 2012. More info:smo 254 Like it? Share it!More by this author |