Australian Gaming seeks $80m in IPO

The proceeds of the IPO will be used to acquire five gaming-centric pubs in Sydney’s west and south-west.

Australian Gaming & Entertainment plans to raise $80 million in an initial public offering and has embarked on a five-city roadshow today to entice investors in Australia and Asia to buy shares in the future operator of gaming-centric pubs in Sydney, according to an email sent to Data Room.

CIMB and Wilson HTM are joint lead managers of the IPO that seeks to sell 80 million shares at $1 each. The offer price of the IPO is 12.6 times the company’s forecast 2015 net profit per share.

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