OzForex plans debut
The currency transfer business is part owned by Macquarie Group and private equity firm the Carlyle Group.
OzForex plans to sell 219.7 million shares at $2 a share, according to a prospectus lodged on Monday. It will raise an additional $24 million from the IPO that will be paid as a dividend to its existing owners - including Macquarie.
The company is planning its Australian Securities Exchange debut on October 11.
"After 15 years of building this business we've lodged our prospectus with the aim to go public shortly," OzForex chief executive Neil Helm said.
The company's founder, Matthew Gilmour, and an early OzForex investor Gary Lord will each reap about $60 million from the sale. Macquarie is set to receive a little more than $90 million from the sale.
Mr Helm said the company had been growing strongly in the past few years, and there were real opportunities for overseas expansion.
At $2 a share the company is priced at a multiple of 21.7 times its 2014 forecast profit of $18.6 million.
Frequently Asked Questions about this Article…
OzForex is an online foreign exchange specialist that facilitates currency transfers. The company is positioning itself as a digital currency-transfer business ahead of its upcoming OzForex IPO and ASX debut.
OzForex plans to make its Australian Securities Exchange (ASX) debut on October 11. Everyday investors watching the OzForex IPO should note the listing date and related prospectus details made available before the float.
OzForex is set to emerge with a market capitalisation of around $480 million when it makes its ASX debut.
OzForex plans to sell 219.7 million shares in the IPO at $2.00 per share, according to the prospectus lodged ahead of the listing.
The IPO will raise an additional $24 million that the company plans to pay as a dividend to existing owners, including institutional backers such as Macquarie Group.
OzForex is part-owned by Macquarie Group and private equity firm the Carlyle Group. The company's founder Matthew Gilmour and early investor Gary Lord are each set to receive about $60 million from the sale, while Macquarie is expected to receive a little more than $90 million.
At $2 a share, OzForex is priced at a multiple of 21.7 times its 2014 forecast profit of $18.6 million, according to the prospectus figures.
OzForex CEO Neil Helm said the business has been growing strongly in recent years and that there are real opportunities for overseas expansion after 15 years of building the company, as noted in the prospectus commentary.
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