Reliance Worldwide Corporation Ltd IPO

Reliance is a leader in the design, manufacture and supply of high quality water flow and control products in the plumbing industry. Reliance currently operates in the USA, Australia, UK, Canada and New Zealand, and is building a presence in Europe.

 The Reliance IPO of 315m to 367.5m of shares will see the existing owners hold a maximum of 40% of shares on issue, and reserve the right to own at least 30%. Therefore the number of shares offered under the prospectus will represent 60-70% of shares on issue. The indicative price range is $2.27-2.50 per share. Funds raised will be to enable the owners to realise some of their investment in Reliance, provide a liquid market for the shares, and increase capital management flexibility.

Joint lead managers are JP Morgan and Macquarie. Evans & Partners and Morgans Corporate are co-lead managers, Ord Minnett and Macquarie Equities are co-managers.

Shares are expected to commence trading on the ASX 29th April 2016. For more information please see www.relianceshareoffer.com.au