ATLANTA, May 13, 2024
/PRNewswire/ -- Novelis Inc., a leading sustainable aluminum
solutions provider and the world leader in aluminum rolling and
recycling, today announced that it has filed a registration
statement on Form F-1 with the Securities and Exchange Commission
(the "SEC") relating to the proposed initial public offering of its
common shares. The common shares are expected to be offered by
Novelis' sole shareholder (a wholly owned subsidiary of Hindalco
Industries Limited). Novelis will not receive any proceeds from the
sale of common shares by its sole shareholder.
Novelis intends to list its common shares on the New York Stock
Exchange ("NYSE") under the ticker symbol "NVL."
The number of shares to be offered and the price range for the
proposed offering have not yet been determined. Novelis expects to
complete the public offering after the SEC completes its review
process, subject to market and other conditions. There can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Morgan Stanley, BofA Securities and Citigroup will act as lead
book-running managers for the proposed offering with Wells Fargo
Securities, Deutsche Bank Securities and BMO Capital Markets acting
as additional book-running managers. BNP PARIBAS, Academy
Securities, Credit Agricole CIB, PNC Capital Markets LLC and SMBC
Nikko will act as co-managers for the proposed offering.
The proposed offering will be made only by means of a
prospectus. Copies of the preliminary prospectus, when available,
may be obtained from: Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone:
1-866-718-1649, email: prospectus@morganstanley.com; BofA
Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001,
Attention: Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; or Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:
800-831-9146.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These
securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities. Any offers,
solicitations of offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act").
About Novelis
Novelis Inc. is driven by its purpose of shaping a sustainable
world together. We are a global leader in the production of
innovative aluminum products and solutions and the world's largest
recycler of aluminum. Our vision is to advance aluminum as the
material of choice with circular solutions. To achieve this vision,
we partner with our suppliers, as well as our customers in the
aerospace, automotive, beverage packaging and specialties
industries throughout North
America, Europe,
Asia and South America. Novelis is a subsidiary of
Hindalco Industries Limited, an industry leader in aluminum and
copper, and the metals flagship company of the Aditya Birla Group,
a multinational conglomerate based in Mumbai.
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SOURCE Novelis Inc.