Quadrant-backed Burson Auto Parts eyes A$220m IPO

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australian flagPrivate equity-backed Australian car parts supplier Burson Auto Parts is reportedly planning to raise A$220m ($201m) via an IPO.

Burson will float a 74 per cent stake with Quadrant, which bought a 75 per cent interest in the company in 2011, set to retain a 19.9 per cent shareholding, said Reuters, citing a person familiar with the offer.

The company’s founders and management team will hold a six per cent stake after the IPO, said the report.

The IPO is expected to value Burson at A$298m including the unlisted portion.

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