Novelis, the world's largest aluminum recycler, recently announced its

Published: May 30, 2024 13:34

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Novelis, the world's largest aluminum recycler, recently announced its plan to raise US$945 million through an initial public offering (IPO) and be listed on the New York Stock Exchange under the ticker symbol "NVL". This IPO will further consolidate the company's leading position in the global aluminum products and solutions industry.

According to foreign media reports, on the 28th, Novelis released more details about its IPO. The company stated that they will issue 45 million ordinary shares, which are held by Novelis's only shareholder, a wholly-owned subsidiary of the Indian conglomerate Hindalco Industries Limited. In 2007, Hindalco acquired Novelis, the world's largest aluminum recycling company.

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