Coates Hire Owners Consider Floating the Company

THE owners of Coates Hire are considering floating the equipment rental firm, four years after taking it private.

Speculation has been rife that investment bankers had been appointed to advise on an initial public offering of Coates, which is partly owned by US private equity firm the Carlyle Group and Kerry Stokes' Seven Group.

According to market whispers, investors hope the float will raise about $700 million.

For more about the possible IPO for Coates Hire...