Mackay’s Dalrymple Bay Coal Terminal business will be listed on the stock exchange next month under Dalrymple Bay Infrastructure, with a market value of more than $1.2 billion.
The prospectus for the float was released yesterday, with start of trading on the ASX expected on December 8. It is expected to be be one of the largest infrastructure listings in 10 years.
The offer price will be $2.57 per stapled security, to raise a total of $656 million. Indicative market capitalisation is listed at $1.286 billion.
Dalrymple Bay Infrastructure owns 100 per cent of the long-term leasehold in Dalrymple Bay terminal, one of the world’s largest metallurgical coal export facilities
Brookfield Infrastructure Partners expects to retain up to 49 per cent of the company, while the Queensland Investment Corporation will invest $128 million and hold a 9.9 per cent stake.
The Dalrymple Bay Coal Terminal is a regulated multi-user export terminal within Port of Hay Point, 38km south of Mackay, and has a nameplate capacity of 85Mtpa.
Dalrymple Bay Infrastructure’s independent chair – former Queensland Government minister David Hamill – described Dalrymple Bay terminal as a highly strategic asset given its critical role in the global steelmaking supply chain.
“As the key export gateway for some of the highest quality product available to the global steel industry, it is a significant contributor to the Queensland economy, the world’s largest export region for metallurgical coal, handling more than 30 per cent of the state’s coal exports,” he said.
“As the terminal begins to accommodate expected future growth from the Bowen Basin, so too will it support further regional investment and jobs, particularly around the broader Mackay region.”
Mr Hamill stated in the prospectus that the group had made substantial progress toward the next phase of expansion of the terminal.
More information on Dalrymple Bay Infrastructure HERE