Orica fission boosts Goldman

Goldman Sachs JBWere named as sole lead manager for explosives firm's demerger and $900 million rights issue.

Orica plans to raise up to $900 million through a one-for-eight rights issue, with Goldman Sachs JBWere acting as sole lead manager. It has agreed to underwrite the institutional raising, which will be around $600 million, but will not underwrite the $300 million retail component.

The raising will extend Goldman Sachs JBWere’s recently acquired lead in the ECM market over UBS and Macquarie, which ironically have both had advisory roles with the explosives and paints group in recent years.


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