30 SEPTEMBER 2014AlCircle.com
Orkla puts up 83 percent shares of Granges for public offering
Edited by : AL CIRCLE
1 min read
Granges, the Swedish aluminium subsidiary of the Norwegian company Orkla, has been put up for public offering by the parent company. The initial offer for it has been tagged at an amount between 3.1 billion and 3.7 billion Swedish crowns ($426-508 million).
Orkla has been shedding off its metal assets as it is concentrating more on consumer goods recently thus they are offering up to 83 percent of the company at the same time listing the company on the Stockholm Stock Exchange on Oct 10.
With the aluminium looking good for the first time in years, as a rolled aluminium producer, Granges should find a good market demand.
Orkla confirms on Monday that it will offer up to 83 percent of the total number of shares in Granges, or 61.8 million shares. The shares will be put up on sale at rates ranging between 42 and 50 Swedish crowns per share.
The reason for the sale is primarily due to the parent company’s shift of interest who are busy buying branded goods business like Rieber & Son purchased in 2012, turning away from the metal businesses.
Orkla has been shedding off its metal assets as it is concentrating more on consumer goods recently thus they are offering up to 83 percent of the company at the same time listing the company on the Stockholm Stock Exchange on Oct 10.
With the aluminium looking good for the first time in years, as a rolled aluminium producer, Granges should find a good market demand.
Orkla confirms on Monday that it will offer up to 83 percent of the total number of shares in Granges, or 61.8 million shares. The shares will be put up on sale at rates ranging between 42 and 50 Swedish crowns per share.
The reason for the sale is primarily due to the parent company’s shift of interest who are busy buying branded goods business like Rieber & Son purchased in 2012, turning away from the metal businesses.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Nalco to invest Rs 660 cr on 100 MW wind power plant
Next articleDickinson Group of Companies shows increase in business by adopting new techniques
Grow with
AL Circle
