Cascal eyes $365m NYSE listing
- From: Vol 9, Issue 1 (January 2008)
- Category: General
- Region: Americas
- Country:
- Related Companies: Aguas de Panama, Biwater, Bournemouth & West Hampshire Water, Cascal, China Water Company, Credit Suisse, JP Morgan and Nuon
Biwater is set to spin off its concessions arm later this month. It will be the first test of investor appetite for new water stocks in what will be a busy year for water IPOs.
UK plc Biwater will float its 100% subsidiary Cascal on the New York Stock Exchange during the week of 20 January. The company is looking to debut with a market capitalisation of up to $365 million, based on pro-forma revenues of $138 million and EBITDA of $57.6 million for the year ended 31 March 2007.
Biwater will sell 8 ...
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