The largest IPO to hit the Australian market in some time, Viva Energy, kicks off this week. Viva Energy, which is largely Shell Australia’s old downstream energy assets including petrol service stations and the Geelong refinery, is seeking to raise almost $3 billion from investors. Upon listing, Viva Energy will have a market capitalisation of around $5 billion.
Here is what I think of the IPO.
Viva Energy is one of Australia’s leading integrated downstream petroleum companies. Its underlying operations were formerly part of the Shell group, which has operated in Australia for over 110 years.