GreenAir, Carbon Broker, to Raise A$100 Million

February 25, 2008 (Bloomberg) – GreenAir, a carbon credit dealer, is seeking to raise A$100 million ($92.4 million) ahead of plans for an initial public offering after the Australian government signed the Kyoto Protocol, the Australian Financial Review said. The Sydney-based company, established by former Westpac Banking Corp. executive Himanshu Dua, is trying to secure an underwriter and plans to begin trading on the Australian Stock Exchange within 12 months, the newspaper said, citing Dua.

Dua, who owns more than half of the company, would sell up to 20 percent of his stake into the initial public offering, which is expected to value the group at between A$430 million and A$520 million, the report said.

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