News: Australia's Reliance Worldwide to raise up to $693 mln in IPO

SYDNEY, April 11 (Reuters) - Australian plumbing services company Reliance Worldwide Corp plans to raise up to A$919 million ($692.6 million) in an initial public offering of shares, according to an offer document filed with the regulator on Monday.

This will make it the biggest IPO fund-raising since health insurer Medibank (MPL) raised A$5.7 billion in late 2014.

Reliance Worldwide Corp, which is riding a construction boom in the country, will offer 315-367.5 million shares at an indicative price range of A$2.27 to A$2.50, it said in an IPO prospectus.

JPMorgan and Macquarie are the joint lead managers of the IPO. ($1 = 1.3270 Australian dollars)