Fairmount Minerals explores $1 bn IPO: Media
Report
03/06/2014 17:10
Fairmount Minerals Ltd, one of North America's largest providers of industrial sand to the oil and gas industry, is exploring an initial public offering of around USD 1 billion that could come later this year, reported Reuters. American Securities LLC, the private equity firm that controls Fairmount, has held talks with investment banks in recent weeks about an IPO that could value the mining company at over USD 6 billion, including debt, sources told media. According to the reports, Barclays Plc (BARC.L), Morgan Stanley (MS.N) and Wells Fargo & Co (WFC.N) are likely to lead the IPO of Fairmount Minerals. "We continually evaluate various strategic and capital structure alternatives to maximize shareholder value, but we can make no further comment at this time," a Fairmount spokeswoman said. Further, the IPO would come after a rally in the shares of Fairmount's publicly listed peers, including Emerge Energy Services LP (EMES.N), Hi Crush Partners LP (HCLP.N) and U.S. Silica Holdings Inc (SLCA.N), added the media report.
03/06/2014 17:10
Fairmount Minerals Ltd, one of North America's largest providers of industrial sand to the oil and gas industry, is exploring an initial public offering of around USD 1 billion that could come later this year, reported Reuters. American Securities LLC, the private equity firm that controls Fairmount, has held talks with investment banks in recent weeks about an IPO that could value the mining company at over USD 6 billion, including debt, sources told media. According to the reports, Barclays Plc (BARC.L), Morgan Stanley (MS.N) and Wells Fargo & Co (WFC.N) are likely to lead the IPO of Fairmount Minerals. "We continually evaluate various strategic and capital structure alternatives to maximize shareholder value, but we can make no further comment at this time," a Fairmount spokeswoman said. Further, the IPO would come after a rally in the shares of Fairmount's publicly listed peers, including Emerge Energy Services LP (EMES.N), Hi Crush Partners LP (HCLP.N) and U.S. Silica Holdings Inc (SLCA.N), added the media report.
