Despite stock market volatility in recent times, the Valemus IPO appears set to proceed with the Retail Share Offer opening today. If successful, the float will raise over 1.2 billion dollars, making it the largest IPO so far this year. In fact it will be the largest initial public offering since Myer last year, although prospective investors would be hoping for a much better performance this time around.
Valemus is the recently renamed Australian arm of Bilfinger Berger - a German Construction and Engineering business. While Bilfinger Berger may not exactly be a household name, many of us would have seen the name Abigroup or Baulderstone on various construction sites around Australia over the years. And it is these two businesses which make up the bulk of Valemus Limited.
