Home Investment Consortium Co. Pty Ltd, or HomeCo, priced its upcoming IPO on the Australian market at A$3.35 per share, with plans to list the shares Oct. 14, The Australian Financial Review's Street Talk blog reported, citing a term sheet sent to investors.
The Sydney-based retail property owner is looking to raise A$300 million by issuing 89.6 million shares at a price of A$3.35 each. On a market capitalization basis, the deal values the company at A$637.7 million, according to the Sept. 9 report. The implied yield of the IPO is 6% on a fully franked 2020 financial year forecast basis.
HomeCo plans to file its prospectus with the corporate regulator Sept. 23. The listing is expected to become the largest real estate IPO in Australia in 2019.
Credit Suisse, Goldman Sachs and JPMorgan are the banks working on the IPO.
