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0 0 0 0 0.000529520783690654 0.0010590415673815 -0.00079428117553617 0.000529520783690654
Stock impact report

Indian Billionaire Birla Said to Mull Seeking $1.2 Billion in Novelis IPO [BNN Bloomberg (Canada)]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: BNN Bloomberg
Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, the people said, asking not to be identified because the matter is private. The Indian group could seek to list Novelis on the New York Stock Exchange by September, pending approvals from the US Securities and Exchange Commission, the people said. Novelis is the world's biggest maker of flat-rolled aluminum products, used in an array of goods, from cars to soda cans. Novelis said in February it had filed confidentially for the listing with the SEC. Deliberations are ongoing and details of the fundraising, including size, could change, the people said. The aluminum products maker may also still decide not to proceed with an IPO, they said. A representative for Hindalco declined to comment. Hindalco purchased Novelis in a multibillion-dollar deal in 2007. The US unit contributed to more than 60% of the Indian company's revenue last financial year. Under the proposed sale, the stock will be offered Show less Read more
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