Long-awaited Carbon Revolution ASX listing expected for December

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. 

This year it has also launched its move into aviation product development, and carried out a $73.4 million pre-IPO raise.

Picture: motoiq.com

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