~$A919 million1 ASX listing of Reliance Worldwide Corporation.
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Global plumbing fittings manufacturer, Reliance Worldwide Corporation, was listed on the ASX in April 2016 at an attractive valuation of 21.0x FY17 P/E2, which represented the highest listing multiple achieved by a building products company on the ASX at the time.
Macquarie Capital’s strong building products credentials and unparalleled ECM track record3 in executing high P/E2 IPOs ensured an experienced team was advising Reliance’s shareholders.
Macquarie Capital acted as joint lead manager and joint bookrunner on the IPO.
A successfully executed cornerstone strategy, which generated strong momentum prior to launch, combined with Macquarie’s deep relationships with global and domestic investors, helped deliver an outstanding outcome for the company.
Heavily oversubscribed IPO by investors.
Winner of the IPO of the Year award by FinanceAsia in 2016