BIS Industries gets cool reception

Fund managers are wary of the prospects for the business, which aims to raise as much as $500 million in an IPO.

Fund managers who have been briefed on the planned IPO of BIS Industries say they are sceptical of float hopeful’s ability to sustain a competitive advantage.

One fund manager says the sponsoring brokers for the float of the mine-site trucking business – UBS, Goldman Sachs and Bank of America Merrill Lynch -- are “pushing uphill in terms of sentiment”.


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