Apollo RV IPO by Morgans along with NOJA, page-3

Apollo Motorhomes plans to lodge a prospectus with the corporate regulator next week and list on the ASX on November 4.
Marketing material distributed to fund managers, and obtained by Street Talk, show the company wants to issue 50 million shares at $1 apiece. The proceeds will be used for purposes including the reduction of existing debt and growth capital.  
Gross offer proceeds of $50 million will deliver the company a market capitalisation of almost $145 million.
Apollo is a recreational vehicle company with operations across Australia, New Zealand, the US and Canada.

Post the float, the company's founding shareholder will hold a 65.5 per cent stake in Apollo and new investors the remainder. Shares held by the founders are subject tpo escrow for two years, the document said.

The company has big aspirations after increasing revenue from $109 million in fiscal 2014 to almost $156 million in its 2016 year. Investors are being told Apollo expects revenue to jump to $183 million in fiscal 2017, while EBITDA is forecast at $48.7 million.
Risks for Apollo as a listed entity include dependence on suppliers and commercial partners including Winnebago and Adria and increased input costs such as fuel or employment expenses.
Brisbane-based Morgans is the float's lead manager and underwriter.
Street Talk this week revealed that Apollo Motorhomes, began an investor roadshow on Monday, has lined up former KPMG stalwart Stephen Lonie as chairman for its run at the ASX.

Lonie was a managing partner at KPMG in Queensland before starting his own consulting firm. He is also a non-executive director of Retail Food Group and MyState Limited.
The company was founded by Gus and Carolyn Trouchet in 1985, and is now owned by sons Luke Trouchet and Karl Trouchet, who are chief executive and finance chief respectively.  


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