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Abris sets Alumetal IPO price to raise $120m

23 Jun 2014

aluminiumCentral and Eastern Europe-focused private equity firm Abris has set the maximum price for portfolio company Alumetal’s IPO at $120m by pricing its shares at PLZ44 each.

Alumetal was expected to raise between $66m and $165m through the share sale, which is likely to take place at the end of June or beginning of July according to Reuters.

Abris has previously confirmed plans to sell its 56 per cent stake through the IPO.

The company processes about 150,000 tonnes of scrap aluminium each year, with most converted into components for the vehicle industry.

It had EBITDA of about $17m in the first quarter of 2014 on sales of about $102m.

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