Industry & Economy
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Disinvestment
Nalco: ABN-Amro Rothschild to be advisor, book runner
Our Bureau
MUMBAI, June 5
ABN-Amro Rothschild has been appointed advisor, joint global co-ordinator and joint bookrunner for the privatisation of state-owned National Aluminium Company Ltd (Nalco).
The government is selling 59.15 per cent of its equity stake in the aluminium company.
The appointee is the equity capital markets joint venture of the Rothschild and ABN-Amro groups and has lead managed some of the largest capital raisings globally in the metals and mining sector, according to its news release.
The offering will take place in three stages, said a news release from ABN Amro Rothschild. First, a 10 per cent stake in the company will be sold as a domestic offering. The second stage involves an international offering of 20 per cent in the form of American Depository Receipts. The third stage involves the sale of 29.15 per cent equity stake to a strategic investor.
This would be an opportunity to work on a transaction structure that will introduce significant innovation to the Indian capital markets, said the release, quoting Mr Matthew Kirkby, Managing Director and Head of Asian Equity Capital Markets for ABN Amro Rothschild.
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