1994 A LOOK BACK — Falconbridge goes public

Canada’s second-largest nickel producer, Falconbridge (TSE), completed a successful initial public offering about mid-year.

The transaction, worth about $1.4 billion overall, was one of the country’s largest equity issues ever.

Falconbridge had been a private company since 1989 when Noranda (TSE) and Trelleborg AB of Sweden each acquired a 50% interest. Amid concerns about depressed metals prices, Trelleborg decided to sell some of its interest. After the financings closed, Noranda owned 46.4%, Trelleborg 28.3% and other investors 25.3%.