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HMS To Raise $652M In IPO

HMS液压机器&系统计划raise about $652 million from its initial public offering in London.

    HMS Hydraulic Machines & Systemsis planning to raise about $652 million from its initial public offering (IPO) in London,Reutersreports. The Russian pumps manufacturer will sell a total of 54.3 million of new and existing shares at $9.25 to $12 per share.

    HMS will use the proceeds from the offering to pay debt and for acquisitions. The IPO values the group at up to $1.45 billion. The joint book-running managers for the sale areJP Morgan,Morgan StanleyandRenaissance Capital.

    Click here for the story fromReuters.

    Click here for additional coverage fromBloomberg.

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