Australia’s Molycop shelves $635 million initial public offer – sources

Australian mining services company Molycop has put on hold its planned A$1 billion ($635 million) initial public offering until 2024 due to the ongoing volatility in global financial markets, according to two people with direct knowledge of the matter. Molycop and its private equity ownership group, American Industrial Partners (AIP) declined to comment. The deal was slated to be one of the largest in Australia for 2023, and the biggest new share sale since GQG Partners raised A$1.18 billion in a 2021 listing.