Aditya Birla returns to investors with new prospectus

The Indian conglomerate revisits the A$299 million listing of its Australian mining company following a slippage at its open cut copper mine.
Two weeks after pricing the A$299 million IPO of its Australian operations, Aditya Birla has re-issued its prospectus with new forecast earnings figures.

The Indian company says output from its Nifty copper mine in the Pilbara region of Western Australia will be adversely affected by a slippage that resulted from weeks of heavy rains.

The new prospectus will show lower earnings forecasts for 2007 resulting from the expected drop in production by 2,000 tonnes, from 106,000 tonnes to 104,000 tonnes.

Arrangers UBS have already been in contact with institutional investors who subscribed to the shares on April 10 to re-confirm their orders.

Says one source close to the deal ôI canÆt see investors canceling their...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222