Recall debuts on ASX

After years of toil and several failed attempts, Recall made its long awaited debut on the ASX yesterday. Its first day as a listed business was a muted affair, with the company listing at $4.15 and rising 8% to close at $4.48, giving Recall a market capitalisation of almost $1.4bn. That’s a far cry from the $2bn valuation that Brambles was suggesting while trying to sell the business earlier in the year. With pre-tax earnings of US$144m last year and average earnings of US$137m over the past five years, Recall trades on an undemanding pre tax earnings multiple of...

After years of toil and several failed attempts, Recall made its long awaited debut on the ASX yesterday. Its first day as a listed business was a muted affair, with the company listing at $4.15 and rising 8% to close at $4.48, giving Recall a market capitalisation of almost $1.4bn.

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