Transport Company Will Go Ahead With Public Float Despite Fatal Petrol Tanker Crash

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Plans for McAleese Transport to list on the sharemarket will go ahead despite the recent fuel tanker accident causing two fatalities has raised questions about the safety of its fleet.

Company chairman Mark Rowsthorn has reassured concerned potential investors in the company’s $155 million IPO, telling them the ­company was adequately insured and that the incident and subsequent safety reviews would not impact the company’s earnings, reports the Financial Review.

McAleese is expected to float before November with an estimated market capitalisation of $446.5 million, according to the AFR.

The cause of the accident is yet to be determined.

Read more here.

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