GREY:HRIVF - Post by User
Post by
discernon Jun 05, 2010 7:05pm
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Post# 17161976
Another Must read
Another Must readJohn Helmer has released his latest article on HRG, Sevesrtal and the unfolding drama that anyone long for more than 8 months has endured.
Key points from the article include:
JP Morgan will be the lead arranger for the IPO.
The IPO will either be in the fourth quarter, or earlier depending on what happens to gold prices.
No valuation has been placed by Severstal on the stock.
The IPO (if Severstal floats 20% of the company) will likely raise between $400 - 800 million.
Severstal currently has debt in the neighbourhood of 8 billion. They really cannot make any financial olbigations without permission from the financiers. For instance, the repurchase of Troika shares must have received approval.