Steel distributor reportedly seeking dual listing on ASX and NZX.
Auckland-based steel distributor Vulcan Steel is reportedly preparing a $500 million initial public offer and listing on the NZX and ASX.
Fund managers in Australia were pitched on the proposal
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Auckland steel firm Vulcan touted as IPO candidate nbr.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbr.co.nz Daily Mail and Mail on Sunday newspapers.
Vulcan steels for $1b float: maiden pitch to Aussie funds
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Privately-owned Australasian steel products distributor Vulcan Steel made its maiden pitch to Australian fund managers on Monday, touting its big footprint, 25-year track record of profitable growth and cash conversion.
Vulcan Steel, which is lining up for a $1 billion-plus float on the ASX and NZX, told funds it was making more than $NZ700 million a year revenue ($662 million), $NZ100 million ($94.6 million) EBITDA and 90 per cent cash conversion.
Metals distributor and processor Vulcan Steel has Credit Suisse and UBS helping with its pitch to potential investors.
Bloomberg
It told funds that it had 29 sites and 800 staff, with about two-third of its business in Australia and the other one-third in New Zealand. It said it had strong market positions across its steel (carbon steel) and metals (stainless and engineering steel) product segments in both countries.
Judo chops through fintech fears on fundie roadshow afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Staff Reports
3 hrs ago
ADEL, Ga. â Vulcan Steel Structures, Inc. (Vulcan) was recently recognized with an industry Safety Award from the Metal Building Manufacturers Association (MBMA).Â
Each year MBMA recognizes metal building systems manufacturers and associate members who show exceptional commitment to assuring workplace safety, according to a press release from Vulcan Steel Structures. Safety awards for 2020 performance were presented at the MBMA 2021 Spring Meeting held virtually April 28-30. Vulcan earned the Safety Performance Award for companies that achieved an incident rate equal to 50% or less than the OSHA industry average. Â
âPromoting workplace safety is one of MBMAâs most important objectives and these awards recognize the member companies that set an example for all of us,â says Tony Bouquot, general manager of MBMA. âFor 2020, our Building Systems members had 43 plant facilities that participated in MBMAâs Quarterly OSHA Injur