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Vallar raises £700m, beats IPO target
Wed, 08 Feb, 2012
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Vallar raises £700m, beats IPO target
Fri, 9 Jul 2010, 09:00:00
Vallar, financier Nat Rothschild's investment vehicle, beat its own target when it raised £707m in an initial public offering in London. The group, which said last month it plans to raise £600m, placed 68.7m shares at £10 each. Full trading will commence on 14 July. Nat Rothschild said: "We are delighted to have received such a positive response from global investors in these difficult markets." "These challenged markets present us with attractive acquisition opportunities and we are confident that we can acquire a major mining business at a valuation that will generate significant shareholder value and provide a platform for the future growth of Vallar." Following admission, the group intends to buy a single major company that has significant operations in the global metals, mining and resources sector. The group previously said it expects to focus on regions and commodities where it can leverage the extensive network and strong prior operating and investment experience of the Vallar Team, led by founders Nat Rothschild and James Campbell, within the sector. As such, the focus regions include the Americas, Russia, Eastern Europe and Australia, and potential commodities include base metals, coking coal, iron ore and thermal coal (and may also include gold, silver, uranium and associated co-products or by products).
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