ADVERTISING company oOh! Media has priced its float at a range of 8.2 times to 8.8 times its earnings before interest, tax, depreciation and amortisation for the 2015 financial year.
That compares with a pricing range of 9.4 times for rival APN Outdoor, which saw its shares trade higher in the after market for its recent listing.
The deal is being handled by investment bank Macquarie Group and Highbury Partnership.
Last week, APN’s shares gained 10c from its $2.55 issue price on its first day of trade.
Some had previously questioned whether the appetite would extend to APN’s rival oOh! Media, owned by Champ private equity.
A float has been mooted for early next year, although Nine Entertainment has also been circling as it aims to diversify its media portfolio.
Analysts had earlier valued oOh! Media at between $405 million to $479 million, equating to 14.8 to 18.1 times its net profit for the 2015 financial year.
That compares to rival APN Outdoor’s pricing of 19.2 times forecasted net profit.
http://www.theaustralian.com.au/bus...prices-its-float/story-fnjw8txa-1227128231915
