Woodchip processor Midway is positioning itself for a run at the ASX boards, with the company understood to be embarking on a cornerstone process for its initial public offering. Sources: The Australian & Timberbiz
Midway’s market value is expected to be about $250m in a deal being handled through Ord Minnett and Bell Potter.
The operation comprises a woodchip mill located near Geelong and its exports hardwood from native forests and plantations.
It also exports woodchips from plantations, with its main customer Nippon Paper in Japan and Mitsui as a Japanese trading partner.
Midway is expected to send out documentation to investors in the coming weeks.
Timberbiz had already flagged this proposed listing in April 2016.