SA’s Hollard cancels R9.5bn listing – would have been Australia’s biggest

South African-owned insurer Hollard Group cancelled a listing of its Australian unit Greenstone Pty Ltd that was meant to raise nearly A$1 billion ($768 million), putting an end to Australia's biggest flotation so far in 2015.
Published on

SYDNEY, June 10 (Reuters) – South African-owned insurer Hollard Group cancelled a listing of its Australian unit Greenstone Pty Ltd that was meant to raise nearly A$1 billion ($768 million), a source told Reuters, putting an end to Australia's biggest flotation so far in 2015.

Hollard cancelled the sale on Tuesday, said the source who was familiar with the sale but was not permitted to comment publicly because of the sensitive nature of the situation.

The source did not give a reason for the cancellation and Goldman Sachs bankers working on the IPO, slated for June 16, did not immediately return calls requesting comment.

Related Stories

No stories found.
BizNews
www.biznews.com