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13/05/15

16:12

Post #: 15272357
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Originally posted by howvan ↑

Just saw this article in the Australian. Anyone know much about this float?

Gateway Lifestyle float set to raise $235m

The initial public offering for manufactured housing park operator Gateway Lifestyle has been priced at $2 per share, equating to a market value of $510 million.
According to documents obtained by The Australian, the company plans to offer 117.3 million new shares and will comprise 255.2 million shares once listed, with gross proceeds from the offer to Gateway Lifestyle to be $234.7 million.
The latest numbers means that the deal will have a 6.2 per cent forecasted distribution yield.
Gateway’s price equates to 12 times its forecast earnings before interest, tax, depreciation and amortisation for the 2016 financial year.
It comes as Macquarie and UBS are expected by close of business today to lock in cornerstone investors who may be allocated up to $300m.
Once listed, Gateway’s enterprise value will be $552.7m.
The company has 36 manufactured housing estates throughout Australia.

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its a Qld based thing but from what I hear it may have some legs.
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