I was contemplating this idea yesterday. IFT would surely be in the deal as it aligned with the healthcare platform they're building and clears their investment hurdle in regards to EBITDA margin. I remember reading somewhere recently on AFR, that flyers for the auction stated Icon Group was roughly 20% EBITDA margin.
As at 30 September 2021 we had $1.1B in cash, and $695M in undrawn bank facilities.
Just utilising the cash, post Gurin Energy, Auckland Radiology, and Kao Data Centres it still leaves roughly NZ$448.9m cash + $659M bank facilities, that's just over $1.1B total capacity left.
My question is, what do people think of a possible capital raising to fund a little more? I'm reading Icon Group is in the AU$2.5B range or NZ$2.65B. I say this only because I believe IFT would be seeking 50.1% as a minimum, and I don't believe they'd like to leave very little in the kitty.
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