Business
DDH1 seeks $150 million IPO at 5.3x earnings – The Australian Financial Review
Oaktree Capital Management’s drilling business DDH1 Ltd has put a $150 million initial public offering to fund managers.
Funds were told that DDH1s founders would sell down their 53.7 per cent stake to 34 per cent, and Oaktrees 41.8 per cent stake would turn into 22.1 per cent upon listing.
The institutional bookbuild was scheduled to open at 10am on Thursday, and close on Monday February 8.
DDH1 is the operator of Australias largest fleet of surface diamond core, reverse circulation and aircore drilling rigs. The company owns 95 drilling rigs and services big money clients like Newcrest, Newmont, Rio Tinto, BHP,…
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