Australia-based private wealth and funds manager Evans Dixon Ltd. filed a prospectus with the Australian Securities and Investments Commission for its planned IPO, which aims to raise up to A$182.1 million, The Australian Financial Review's Street Talk blog reported March 26.
The company will offer 62.9 million shares at A$2.50 apiece to raise A$157.2 million, with the option to sell at most 10 million more shares to raise a further A$24.9 million, according to the prospectus.
The offering values Evans Dixon at 19.6x expected pro forma fiscal 2018 profit, the publication said. It also appraises the company at 10.1x pro forma fiscal 2018 profit on an enterprise value to EBITDA.
David Evans, executive chairman of Evans Dixon, would hold up to 7.2% of the company on listing while managing director Alan Dixon would own up to 20.3%. Other employee shareholders would own as much as 36.9% of the company, the prospectus showed.
If the IPO pushes through, Evans Dixon, which also operates stockbroking and capital markets advisory businesses, would start trading May 14 on a normal settlement basis.
The float is not underwritten, the publication said, adding that Minter Ellison was named legal adviser and Deloitte was appointed investigating accountant and auditor.