AUSTRALIA: AWB prepares for stock market floatation next month
The sole Australian wheat exporter AWB Ltd launched its prospectus yesterday in preparation for its A$860m (US$438.7m) float on the Australian Stock Exchange next month. Andrew Lindberg, CEO of the company, commented that AWB is an attractive investment, where recognised expertise deals with a strong brand. AWB is also a large-scale operation, providing finance and risk management projects, developing grain technology and controlling 18% of the global wheat market. Its "Single Desk" monopoly position is due for review by the government in 2004, but legislation will not be changed until 2010.
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