RE:RE:RE:Renewables IPO>>The pragmatist tells me it's not going to be a hot ipo. Not at all.
Definitely not. What sexy brave new world are they really selling ? Some leased railcars, truck racks, and oil storage tanks. It's goofy to the point of seeming desperate.
The high multiple might be justified by the potential growth of renewable diesel and some greenfield projects, but all of those require more capital than is likely to come out of the woodwork to take over some railcars and truck racks.
There is something in TWM that I want to own but this spin off makes me wonder if no one else wants to own it