'AFR' (to be in paper tomorrow, Tuesday 7 December 2021) engages in some speculation:
Street TalkJohns Lyng considers donning hardhat, fronting investors
Dec 6, 2021 – 5.55pmProperty services tearaway Johns Lyng Group is believed to be preparing a late trip to capital markets, to help fund a chunky acquisition.It is understood Johns Lyng, worth $1.6 billion as at Monday’s close, has called in JPMorgan’s investment bankers to help with the deal and drum up interest from existing and new institutional investors.The big question is what Johns Lyng has in its sights. The newly ASX300 member specialises in commercial building, emergency restoration and strata management in Australia and the United States, and has said it would target the strata and broker segments for growth this financial year.The company’s been on an acquisition spree, acquiring five businesses at the beginning of the financial year and seeking to lead industry consolidation.The other question is whether Johns Lyng has the stomach to push ahead with the deal, in light of soft capital market conditions. Indeed, its own shares dropped 3.1 per cent to $7.14 on Monday..."
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23 | 65784 | 3.700 |
Price($) | Vol. | No. |
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