GrafTech IPO nets Brookfield smaller-than-expected windfall: Reuters
GrafTech International Ltd raised US$525 million in its U.S. initial public offering on Wednesday, a source familiar with the matter said, netting owner Brookfield Asset Management a smaller-than-expected windfall, Reuters reported. GrafTech manufactures graphite electrodes used in the production of steel. The underwhelming IPO investor reception illustrates that concerns about the volatility of its business persist. Brookfield acquired GrafTech for around US$1.3 billion, including debt, in 2015, and will receive all of the net proceeds from the IPO.
19 April 2018•1 min read
