Aluminum recycler Novelis to raise $945 million in IPO

Atlanta-based aluminum products manufacturer Novelis Inc. hopes to raise up to $945 million through its offering of 45 million of its common shares as it launches its IPO roadshow.

The price per common share is estimated to be between $18-$21, according to documents filed with the U.S. Securities and Exchange Commission Tuesday. Novelis, the world’s largest aluminum recycler, is backed by Indian billionaire Kumar Mangalam Birla’s Hindalco Industries.

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Stephanie Ritenbaugh

Stephanie is an experienced business journalist, holding a variety of positions for trade publications and newspapers, including covering shale development for Gas Business Briefing/Platts and for the Pittsburgh Post-Gazette.

Stephanie Ritenbaugh

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