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News on Medial
Vopak expects decision on Indian joint venture's IPO in first half of 2025
VCCircle
·
5m ago
Medial
Dutch tank storage company Vopak anticipates a decision on the IPO of its Indian joint venture, Aegis Vopak (AVTL), in the first half of 2025. In 2024, Vopak sold a minor share via private placement, gaining 13 million euros. The company, benefiting from India's economic growth, especially in the LPG sector, filed for a 35-billion-rupee IPO to repay debt and acquire an LPG terminal in Mangalore.
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Aegis Vopak Terminals looks to raise around $500 million in a $3-billion IPO
Livemint
·
1y ago
Medial
Indian chemicals and oil storage company Aegis Vopak Terminals, a joint venture between Aegis Logistics and Vopak, is set to file a draft red herring prospectus for a $500-550m initial public offering. The company is expected to be valued at about $3bn. Banks including BNP Paribas, ICICI Securities, IIFL Securities, and Jefferies have been appointed to manage the IPO. Aegis Vopak Terminals provides storage and logistics solutions for chemicals, oils, gases, LNG, and biofuels in India. The company is reportedly exploring options for pre-IPO funding to set the valuation benchmark.
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Bain Capital-backed 360 One bets on tank storage firm
VCCircle
·
9m ago
Medial
Indian joint venture Aegis Vopak Terminals Ltd (AVTL), part of Royal Vopak NV, plans to raise INR800 crore ($95m) from a consortium of investors led by 360 ONE Wealth Asset Management. AVTL, which operates tank storage terminals for liquified petroleum gas and other chemicals, will use the funds to reduce debt and finance other projects. AVTL is also exploring the possibility of an initial public offering.
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Jio BlackRock has made a solid start. The real test lies ahead
Livemint
·
23d ago
Medial
Jio BlackRock, a joint venture between Jio Financial Services and BlackRock, launched in the Indian mutual fund market, collecting ₹17,800 crore from its first three debt-oriented schemes. Institutional investors typically dominate this category. While the venture's start is promising, its future success depends on its ability to scale operations and potentially disrupt the Indian mutual fund industry. Mukesh Ambani's Jio Financial Services is keen on expanding its presence in financial services through this initiative.
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Saudi mining company Ma’aden to buy Alcoa's stake in joint venture for $1.1 bn
VCCircle
·
10m ago
Medial
Alcoa, a US aluminium maker, has announced plans to sell a 25.1% stake in its Ma'aden joint venture to Saudi Arabian mining company Ma'aden for $1.1 billion. The deal includes around 86 million shares of Ma'aden and $150 million in cash. Alcoa expects the transaction to be completed in the first half of 2025 and will continue to hold its Ma'aden shares for at least three years. The joint venture was established in 2009 and has since become a fully integrated mining complex in Saudi Arabia.
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Lulu Group expects to launch IPO in H1 2024, shares to be listed in Gulf - chairman
Reuters
·
1y ago
Medial
Lulu Group International, a hypermarket chain and mall operator, plans to launch its initial public offering (IPO) in the first half of 2024. The IPO will be listed in the Gulf region, although the specific stock exchange has not been decided yet. The company has appointed Moelis and Co as its advisor for the IPO. Lulu Group also aims to increase its investments in India from 200 billion Indian rupees ($2.41 billion) to 500 billion Indian rupees ($6.03 billion) by 2025.
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CVC Capital reports profit rise in first results as public company
VCCircle
·
11m ago
Medial
Private equity firm CVC Capital reported a 16% increase in half-year profit of €340 million ($377 million), marking its first set of earnings since going public on the Amsterdam stock exchange in April. The company expects margins to expand further in the second half of 2024. CVC's total assets under management rose to €193.3 billion, up from €177.3 billion. Its successful IPO has helped revive Europe's market for initial public offerings, being joined by other firms like Galderma and Puig.
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Leela hotels owner Schloss, Aegis Vopak IPOs fully sold on final day
VCCircle
·
2m ago
Medial
Initial public offerings (IPOs) for Leela hotels-owner Schloss Bangalore and Aegis Vopak Terminals were oversubscribed on their final day, primarily due to institutional investor interest as retail demand was weak. The IPOs occurred amid a recovering Indian market with IPO proceeds down 29% year-on-year. Schloss and Aegis sought valuations of $1.7 billion and $3.05 billion, respectively. Institutional buyers showed strong interest, while retail investors found the valuations demanding amidst ongoing market uncertainties.
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Private equity inflow in real estate at $1.73 bn till Jun 15 this yr, set to fall sharply in H1: Knight Frank
Economic Times
·
1m ago
Medial
Private equity investment in Indian real estate reached USD 1.73 billion by mid-June 2025 and is expected to drop sharply in the first half of 2025, according to Knight Frank India. The decline is attributed to elevated interest rates, tighter liquidity, and increased investor scrutiny. In 2024, the sector saw USD 2.96 billion inflows in the first half. Domestic investment surged despite reduced western institutional funding due to currency depreciation and tax impacts on returns.
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Captain Fresh Picks Axis Capital, BofA As Bankers For IPO
Inc42
·
9m ago
Medial
Captain Fresh, a startup in the seafood supply chain, is planning to raise $350-400 million through its upcoming IPO. The company aims for a valuation of $1.3-1.5 billion and will allocate 50% of the raised funds for fresh shares and the rest for an offer for sale. The filing is expected in the first half of 2025, with the listing on the stock exchanges scheduled for the second half of the same year.
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LG rewires strategy before hitting IPO switch
Economic Times
·
1m ago
Medial
LG Electronics is restructuring its strategy ahead of a year-end IPO due to declining sales in India during the first half of 2025. The company is reducing in-store sales promoters and enforcing a performance-oriented approach to cut costs. Sales have dropped due to a cooler summer, leading to decreased demand for air-conditioners and refrigerators, vital sales drivers for LG. The IPO, initially planned for early 2025, has been rescheduled for October-November.
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