WHSP, Singapore's ComfortDelGro pause Australia IPO plans for units

ComfortDelGro

11/11/2021 06:55

Nov 11 (Reuters) - Investment house Washington H. Soul
Pattinson  SOL.AX  and Singapore transport firm ComfortDelGro
 CMDG.SI  have decided against pursuing an Australian listing
for their units, citing adverse market conditions in the
country.
    Washington. H Soul said on Thursday it would not proceed
with the IPO process for its copper and zinc mining unit Round
Oak Metals, a day after ComfortDelGro ended its own plans to
list its Australian unit. 
    While the Australian company cited "current market
conditions" for its move, Singapore-listed ComfortDelGro said
IPO conditions in Australia had become more challenging and
other strategic options had come up.
    The decisions made by the two firms comes just weeks after
Las Vegas-based slot machine maker Scientific Games Corp
 SGMS.O  chose to sell https://www.reuters.com/legal/transactional/canadas-brookfield-buy-scientific-games-lottery-unit-605-bln-2021-10-27
 its lottery business to Canada's Brookfield Asset Management
rather than list https://www.reuters.com/article/scientific-games-divestment-lottery-idUSL1N2RH0CZ
 it in Australia.
    Australia's stock market  .AXJO  is off by about 4% from the
record peak hit in August, as the economy recovers and investors
price in the winding down of unprecedented fiscal and monetary
measures. 

 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Ramakrishnan M.)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))