S. Africa's Hollard seeking to raise $783 mln with Australian unit IPO-source

May 25, 2015 5:52 AM

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SYDNEY May 25 South African-owned insurer Hollard Group hopes to raise nearly A$1 billion ($783 million) by listing its Australian unit Greenstone Pty Ltd, a source working on the sale told Reuters, in what is set to be Australia's biggest initial public offering of 2015.

Greenstone, which sells life and pet insurance, filed a prospectus with Australian authorities on Monday outlining plans to sell about 58 percent of the company for between A$2.00 and A$2.50 per share, said the source who declined to be identified as the offer details had not been formally disclosed...

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