Macquarie to steer NZ training group Intueri’s float

Several companies are gearing up to raise capital and attract new investors.

Intueri Education Group, one of New Zealand’s largest private vocational educational companies, has hired investment bank Macquarie Group as an adviser for a potential initial public offering believed to be worth between $250 million and $300m, according to sources.

Intueri provides training in design and arts, beauty therapy, hairdressing and hospitality.

The company could list in both Australia and New Zealand, sources said.

Macquarie is working with the New Zealand business as it sounds out the market for a potential IPO on behalf of global online learning company 3PLearning, owner of Mathletics, an online maths tutorial provider for school-aged students.

Online companies are being tested as potential IPO candidates after the successful listings last year of Freelancer and credit checking agency Veda.

iSentia, the $300m-plus online media monitoring company, is also soon to come to the market as an IPO.

Numerous companies related to the health sector are also IPO candidates.

Aged-care provider Japara Holdings lodged its prospectus for a float of the $525m company on Friday after receiving strong investor support for a fully underwritten deal by Macquarie Group.

Macquarie secured global investment manager BlackRock as a cornerstone investor, sources said.

Japara is offering up to 225.2 million shares at $2 each.

The $5bn healthcare company Healthscope is also weighing up a potential float or trade sale, in a deal that could see its $1.25bn property portfolio of Australian hospital sites sold off separately to investors.

Malaysian giant IHH was seen as a likely buyer but it is understood to have lost interest.

The federal government was yet to appoint advisers for a $4bn float of Medibank and sources questioned whether there would be government concerns about conflicts of interest with the five investment banks working with Healthscope, given that it was one of the two biggest counter parties to Medibank.

Workplace health and safety provider Recovre was also believed to be for sale in a deal that could reap its owners more than $30m, sources said.

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