Australia's Burson Auto to raise $200 mln in April IPO - source

SYDNEY, March 26 Tue Mar 25, 2014 10:31pm EDT

SYDNEY, March 26 (Reuters) - Burson Auto Parts, Australia's biggest trade supplier of car parts, will list on the local sharemarket at the end of April in a public float raising A$220 million ($201 million), a source familiar with the IPO told Reuters on Wednesday.

After a bookbuild by UBS AG and Morgan Stanley completed on Tuesday, owner Quadrant Private Equity will keep 19.9 percent of the company and Burson's founders and management will keep 6 percent with the remaining 74.1 percent to be floated. ($1 = 1.0933 Australian Dollars) (Reporting By Byron Kaye; Editing by Lincoln Feast)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.