Bye bye, Ventia! Apollo, CIMIC launch $270m block via Barrenjoey, JPM
Ventia Services Group’s IPO vendors, Apollo and CIMIC, are cashing out again, launching a fully underwritten $270 million block trade into the market on Thursday afternoon.
Ventia maintains all kinds of infrastructure, including water treatment plants.
Street Talk understands the firm’s lead managers, Barrenjoey Markets and JPMorgan, were rounding up investors at $2.71 per share – a 1.5 per cent discount to the last traded price of $2.75, according to a term sheet seen by Street Talk.
Approximately 99.8 million securities, representing 11.7 per cent of securities on issue, were up for grabs.
Sources told Street Talk the sale represents the last of Apollo and CIMIC’s shares. The trade comes two months after the pair sold down $331 million worth of shares at $2.75.
More to come.
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