Carbon fibre wheel manufacturer Carbon Revolution is going ahead with plans to list on the ASX in December, according to a report this morning.
In an article on recent failed IPOs – such as those of PropertyGuru, Retail Zoo and MPC Kinetic – The Australian Financial Review reports that Carbon Revolution will price its offer at the end of October.
Some institutional investors have blamed excessive valuations for recently-collapsed IPOs, and one quoted said that vendors needed to “accept a discount to listed peers.”
Carbon Revolution was founded in 2004, and makes the world’s first one-piece carbon fibre wheels. This month it announced a deal for the fifth global car company – an unnamed maker of SUVs – to use its wheels.
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