Cyanide maker Draslovka screens banks for IPO

Market Impact

The company has embarked on an acquisition spree in a bid to diversify its business and make it greener, recently buying proprietary technology for leaching metals. The acquisitions boosted Draslovka’s revenue by 286% to $468 million last year, but the dramatic jump was not immediately reflected in its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), which dropped 13% to $77 million. Its IPO deliberations come as equity markets are warming up again to new entrants following an early wave of listings ahead of the summer lull in Europe and the United States.