BRISBANE, Australia -- Banks that control a nickel joint venture are planning to sell their stake through an initial public offering. The sale is expected to generate about $260 million.

The banks, including Hongkong and Shanghai Banking Corp. and Bank of New Zealand Ltd., took control last year of a 72% stake in the nickel venture that once was held by the Alan Bond family company, Dallhold Investments Pty Ltd. The remaining 28% stake is held by the Queensland government.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.