Aluminum producer Novelis, owned by Hindalco Industries, postpones $945M US IPO due to market conditions.
Aluminum producer Novelis, owned by Indian billionaire Kumar Mangalam Birla's Hindalco Industries, has postponed its $945M US IPO due to market conditions. Novelis, the world's largest aluminum recycler, will continue to evaluate the timing of the offering in the future. The company had planned to raise up to $945M through the sale of 45M shares, with a valuation of up to $12.6B in its US IPO.
June 05, 2024
11 Articles