Pursuits
De Beers IPO Could Fetch $10 Billion for Anglo, HSBC Says
- De Beers would attract a `premium valuation,' HSBC says
- Diamonds were Anglo's best-performing business in first half
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Anglo American Plc, the second-worst performer in the benchmark FTSE 100 this year, could raise more than $10 billion by selling its De Beers diamond business, according to HSBC Holdings Plc.
“De Beers would likely attract a premium valuation,” HSBC said in a note to investors Wednesday. “A partial sale through IPO could be, under the right market conditions, a powerful price-discovery mechanism in addition to being significant cash boost.”