$100m Wabag IPO seen in autumn 2010
- From: Vol 10, Issue 12 (December 2009)
- Category: General
- Region: Asia
- Country: India
- Related Companies: Merrill Lynch, NM Rothschild and VA Tech (Wabag)
The cash generated from Wabag’s impending stock exchange flotation will allow the company to grow through acquisitions. Managing director Rajiv Mittal also wants to branch out into plant ownership.
Water treatment specialist VA Tech Wabag expects to raise $100 million by floating 25% of its stock on the Bombay Stock Exchange next autumn. Managing director Rajiv Mittal told GWI that the company is likely to file a draft prospectus with the Securities and Exchange Board of India in the first quarter of 2010, although he stressed that the timing ...
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