Australia's Bis Industries seeking to raise up to A$500 mln in IPO-source
By Jackie Range
SYDNEY, Nov 7 (Reuters) - Australian mining services company Bis Industries Ltd, owned by private equity firm Kohlberg Kravis Roberts, is seeking to raise as much as A$500 million ($476.25 million) in an initial public offering, a person familiar with the matter said on Thursday.
KKR plans to keep 100 percent of its stake in the business, the person said. A second person said Bis is expected to list before the end of the year and have a market capitalisation of around A$1 billion. Both sources declined to be named as the process is confidential.
A spokesman for Bis, which provides logistics services to commodities producers, declined to comment. KKR could not immediately be reached for comment.
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