Novelis postpones its nearly $1 billion U.S. IPO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2024
0mins
Source: MarketWatch
- Hindalco-backed Company Postpones U.S. Listing: Novelis, an aluminum recycling company supported by Hindalco, has delayed its U.S. listing of over $900 million due to market conditions.
- Future Evaluation of Offering Timing: Novelis stated that it will assess the timing of the offering in the future but did not provide further details on the decision.
- Market Volatility: Recent sessions have seen volatility in global markets, particularly in the United States.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
