IPO - MyDeal.com.au Limited, page-4

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01/10/20

14:23

Post #: 47778661
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Originally posted by mcexplorer: ↑

While the business recorded a $1 million drop in revenue for the last financial year to $39 million, it reduced its operational spending by 19 per cent and took the company from an annual earnings before interest, tax, depreciation and amortisation loss of about $1.2 million to only $161,138 – an 86 per cent improvement.

MyDeal seeks $258.8m value for float; Morgans, RBC launch IPO
Sarah Thompson, Anthony Macdonald and Tim Boyd
Sep 10, 2020 – 11.43am

E-commerce group MyDeal.com.au is in front of investors with an initial public offering valuing the business 2.1-times its forecast gross transaction value.

MyDeal CEO Sean Senvirtne will start his pitch to investors for an IPO next week. Pat Scala

Stockbrokers Morgans and RBC Capital Markets blasted terms to fund managers on Thursday morning.

The terms said MyDeal, an online retail marketplace selling household goods, would seek to raise $40 million at $1 a share for a $258.8 million indicative market capitalisation and $221 million enterprise value.

The price implied 2.1-times forecast 2021 gross transaction value, the term sheet said.

The first $35 million raised at the IPO would be injected into the business, while some existing shareholders would take the other $5 million.

Potential investors were told MyDeal acted as an intermediary between consumer and sellers, with 800 active sellers and 5 million product SKUs on its platform. It said more than 1 million products were sold via MyDeal in the 2020 financial year.

Funds were told the IPO roadshow would begin next week and a bookbuild was slated for September 21.

If successful, the company's shares would trade on the ASX in the second half of October.

MyDeal's run at the ASX-boards has been coming since it booked its first half year profit, more than one year ago.

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When it starts trading ?

MYD Price at posting: 0.0¢ Sentiment: Buy Disclosure: Not Held
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