iSentia raises $287.4m in book build

iSentia, the media monitoring business, has concluded a book build for its initial public offering and has raised $287.4 million, Data Room reporting has discovered.

The company has sold 141m shares at $2.04 each at a price reflecting 15 times a 2015 forecast net profit of $27m. UBS was hired by Quadrant Private Equity to manage the IPO.

Quadrant Private Equity’s stake in iSentia after the IPO will fall to 25 per cent from 85 per cent. The Sydney-based private equity firm did not return a call seeking comment. Currently, iSentia’s management has a 15 per cent stake in the company.

iSentia provides major government and business clients with print, online, broadcast and social media monitoring services. It started out as a small Australian family business 32 years ago and now has offices in Australia, New Zealand, South East Asia and China.

(Reporting by brett.cole@businessspectator.com.au)

(Editing by miranda.maxwell@businessspectator.com.au)