Australia's Royal Wolf plans $98 mln listing in rare IPO

SYDNEY Thu May 12, 2011 8:53pm EDT

SYDNEY May 13 (Reuters) - Shipping container group Royal Wolf plans to raise A$91.5 million ($97.8 million) through a listing on the Australian stock exchange, one of the few floats this year for the country's lacklustre initial public offer market.

Royal Wolf, a subsidary of General Finance Corp , is offering shares at a fixed price of A$1.83 in an offer that would value the firm at A$184 million, the company said on Friday.

Royal Wolf sells and hires shipping containers to the resources, construction, logistics, retail and manufacturing industries in Australia and New Zealand.

Its majority owner GFN will retain a 50 percent interest in the company after listing.

Credit Suisse is underwriting the offer. ($1 = 0.935 Australian Dollars) (Reporting by Michael Smith; Editing by Balazs Koranyi)

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