MYOB's initial public offering has been priced at $3.65 a share, sources said on Thursday, marking the biggest float of 2015 to date.
It's understood MYOB's bookrunners told investors on Thursday afternoon that the accounting software company would list at $3.65 when it hits the ASX-boards on Monday.
The pricing comes after a two-day institutional bookbuild which determined the price for all investors.
It's understood Bain Capital, MYOB's largest shareholder both before and after the float, was weighing up whether to price the deal at $3.65 or $3.70 when the hammer fell at midday on Thursday.
However, Bain will own about 57 per cent of the company on listing and opted to leave some value on the table.
The bookrunners included Citi, Goldman Sachs, Merrill Lynch and UBS.
Reunion Capital Advisers was a financial adviser to MYOB. The firm, led by Mike Everett and Rob Penney, recently advised on the IPO Of Eclipx which rose 21 per cent on its first day of trading.
Bain retaining skin in the game and MYOB's growth story of taking customers to a cloud-based subscription model was well received by investors on the global roadshow, particularly in North America where the investor base is familiar with key comparative Intuit.
